Appraisal Reviews by McLaughlin Property Valuation Services
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews must "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." McLaughlin Property Valuation Services provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected ensures independence and quality." They "must also announce whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some financial institutions supplement regular reviews with post-funding assessments of appraisal quality for some of their high-risk or larger-value affairs as a control to help in identifying valuation issues."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will produce 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 McLaughlin Property Valuation Services, we are qualified in every form of appraisal review, review process and the obligations of review appraisers.
We are aware of what the biggest deficiencies are, especially in our real estate market. We also understand what represents a quality appraisal. The professionals at McLaughlin Property Valuation Services are also trained enough to respect that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to fairly valuate appraisal reports performed by others. And those others could be reviewing our work, too!
When you choose McLaughlin Property Valuation Services, you can rely on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.