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Qualified Appraisal Reviews by Darwin Ernst Appraisal Services, Inc.
As 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 engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Darwin Ernst Appraisal Services, Inc. provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.
A review appraisal should reveal: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality.
Moreover, they must signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the range of the appraisal assignment.
Lastly, the Federal Reserve 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".
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If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today. |
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In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll formulate 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 Darwin Ernst Appraisal Services, Inc., we're qualified in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
We know what constitutes a quality appraisal and what the most common deficiencies are, specifically when it comes to our local housing market.
In the same regard, we're sufficiently skilled to recognize that our competition in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly study appraisal reports completed by others. And those others may be examining our work, too!
You can count on Darwin Ernst Appraisal Services, Inc. for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients.
Contact Darwin Ernst Appraisal Services, Inc. for more information about our qualifications, expertise and service offerings.
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