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Getting a second opinion on an appraisalAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers performing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Marker Appraisal Service provides appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's rules.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the method by which the property valuation is rendered guarantees independence and quality. The review must also show whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment. Lastly, the Fed also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Marker Appraisal Service, we're qualified in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
In short, at Marker Appraisal Service, you can trust our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Marker Appraisal Service for more information regarding our qualifications, expertise and services offered. |
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We realize what the most common reporting inadequacies are, specifically in our real estate market. We also understand what amounts to a quality appraisal.
In the same sense, the professionals at Marker Appraisal Service are amply skilled to identify that the competitors in our market are skillful in doing quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Marker Appraisal Service to justly review appraisal reports performed by others. And those others might be evaluating our work, too!