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Experienced Appraisal Reviews by Missouri Property Appraisal, Inc.According 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 fulfilling reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Missouri Property Appraisal, Inc., we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the processes by which the property valuation is rendered ensures independence and quality. They should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment. 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 coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll prepare 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 Missouri Property Appraisal, Inc., we're qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on Missouri Property Appraisal, Inc.. Contact us to learn more about our qualifications, expertise and services offered. |
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We know what the most prevalent reporting imperfections are, especially in our home market. We also know what amounts to a quality appraisal.
We're also sufficiently experienced to admit that the competition in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Missouri Property Appraisal, Inc. to objectively assess appraisal reports done by others. And those others might be examining our work, too!