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Complete Appraisal Reviews with MRA Appraisal CompanyAs said 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 obligation of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at MRA Appraisal Company, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's regulations.A review appraisal should pursue: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the manner by which the property valuation is obtained ensures independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment. Lastly, the Federal Reserve 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".
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at MRA Appraisal Company, we're experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
Here at MRA Appraisal Company, you can rely on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact MRA Appraisal Company to learn more about our qualifications, expertise and service offerings. |
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MRA Appraisal Company realizes what the greatest reporting defects are, particularly in our real estate market. We also understand what constitutes a quality appraisal.
The professionals at MRA Appraisal Company are also experienced enough to recognize that our competition in our market are capable of quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on MRA Appraisal Company to ethically examine appraisal reports carried out by others. And those others might be evaluating our work, too!