|
Competent Appraisal Reviews with Bruce FeldmanAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the responsibility of appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Bruce Feldman, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.A review appraisal has to detect: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the manners by which the real estate valuation is rendered guarantees independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment. The Fed says 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 conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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. Here at Bruce Feldman, we're qualified in every type of appraisal review, review procedure and the responsibilities of review appraisers.
You can count on Bruce Feldman for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered. |
|||||||||
Bruce Feldman realizes what the greatest reporting deficiencies are, specifically in our housing market. We also understand what constitutes a quality appraisal.
Concurrently, we are adequately skilled to recognize that the competitors in our market are skillful in doing good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Bruce Feldman to objectively examine appraisal reports carried out by others. And those others could be examining our work, too!