Qualified Appraisal Reviews by Bogris Appraisal LLC
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations, look no further than Bogris Appraisal LLC.
If you need a real estate appraisal review or have questions about an appraisal, call Bogris Appraisal LLC today.
According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve states that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or greater-value affairs as a method to assist in identifying valuation problems."
In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will 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. At Bogris Appraisal LLC, we are skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.
We are familiar with what the biggest imperfections are, especially in our real estate market. We also know what constitutes a quality appraisal. We're also skilled enough to realize that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically assess appraisal reports executed by others. And those others might be evaluating our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can depend on Bogris Appraisal LLC. Contact Bogris Appraisal LLC for more information regarding our qualifications, expertise and service offerings.
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