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Center Point Valuation 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 it's the duty of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Center Point Valuation, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's guidelines.A review appraisal has to reveal: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the method by which the property valuation is obtained guarantees independence and quality. The review should also indicate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment. Lastly, the Federal Reserve 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 tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Center Point Valuation, we're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
In short, at Center Point Valuation, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Center Point Valuation for more information regarding our qualifications, expertise and service offerings. |
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Center Point Valuation understands what the most prevalent reporting deficiencies are, specifically in our real estate market. We also know what represents a quality appraisal.
We're also trained enough to identify that the competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly examine appraisal reports completed by others. And those others may be studying our work, too!