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Complete Appraisal Reviews with Moab Appraisal Inc.As stated 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 prudent for appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Moab Appraisal Inc. provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality. The review should also announce whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the depth of the appraisal assignment. Lastly, the Federal Reserve also notes 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 adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Moab Appraisal Inc., we're qualified in every type of appraisal review, review procedure and the obligations of review appraisers.
You can depend on Moab Appraisal Inc. for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered. |
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We are aware of what the most common reporting inadequacies are, especially in our real estate market. We also understand what constitutes a quality appraisal.
In this regard, we're experienced enough to identify that our competition in our market are skillful in doing a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly evaluate appraisal reports completed by others. And those others might be evaluating our work, too!