Appraisal Reviews with Benchmark Appraising, LLC
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Benchmark Appraising, LLC provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Benchmark Appraising, LLC today.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is obtained ensures independence and quality." They "should also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for a few of their high-liability or high-value affairs as a way to assist in addressing valuation issues."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Benchmark Appraising, LLC, we are experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We understand what the greatest defects are, especially in our real estate market, as well as what represents a quality appraisal. In the same regard, we are sufficiently experienced to admit that our competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Benchmark Appraising, LLC to lawfully look over appraisal reports done by others. And those others could be studying our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can rely on Benchmark Appraising, LLC. Contact Benchmark Appraising, LLC regarding our qualifications, expertise and services offered.