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Quality Appraisal Reviews with Enslen Appraisal Services, LLCAs 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 prudent for appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Enslen Appraisal Services, LLC, we provide appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's guidelines.A review appraisal should determine: whether the original appraisal or evaluation is well-suited for the transaction, the risk inherit in the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality. They should also announce whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the scope of the appraisal assignment. The Fed also states 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 regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 Enslen Appraisal Services, LLC, we're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
In short, when you choose Enslen Appraisal Services, LLC, you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered. |
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Enslen Appraisal Services, LLC understands what represents a quality appraisal and what the most common errors are, especially in our local housing market.
We're also trained enough to distinguish that the competitors in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly evaluate appraisal reports completed by others. And those others might be studying our work, too!
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