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Qualified Appraisal Reviews by BOGRIS APPRAISAL LLC
According 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 expectation of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
BOGRIS APPRAISAL LLC provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations.
A review appraisal has to pursue: whether the original appraisal or evaluation is applicable for the transaction, the liability inherit in the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality.
In addition, they should announce whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the outlook of the appraisal assignment.
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 need a real estate appraisal review or have questions in reference to an appraisal, call us today. |
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In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
Here at BOGRIS APPRAISAL LLC, we're trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.
BOGRIS APPRAISAL LLC understands what constitutes a quality appraisal and what the most frequent errors are, especially for reports in our local housing market.
In the same regard, the professionals at BOGRIS APPRAISAL LLC are sufficiently trained to respect that our competition in our market are capable of a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to lawfully valuate appraisal reports completed by others. And those others could be evaluating our work, too!
For professional, objective, ethical appraisal review services and independent judgments, you can count on BOGRIS APPRAISAL LLC.
Contact us for more information regarding our qualifications, expertise and services offered.
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