Meade & Associates Appraisal ReviewsAccording 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 undertaking reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Meade & Associates, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the procedures by which the real estate valuation is rendered guarantees independence and quality. In addition, they must announce whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the outlook 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 adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Meade & Associates, we are experienced in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
Meade & Associates understands what the biggest reporting imperfections are, particularly in our housing market. We also understand what amounts to a quality appraisal. We're also amply skilled to realize that our 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 rely on Meade & Associates to ethically review appraisal reports performed by others. And those others might be reviewing our work, too!
You can count on Meade & Associates for our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Meade & Associates to learn more about our qualifications, expertise and services offered.