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Experienced Appraisal Reviews by Frost Appraisal Services, LLCAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Frost Appraisal Services, LLC provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's guidelines.The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is pertinent for the transaction, the liability inherit in the transaction, and whether the means by which the collateral valuation is rendered guarantees independence and quality. In addition, they should announce whether the appraisal or evaluation report is in line with the letter of engagement, which describes the extent of the appraisal assignment. Lastly, the Fed 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 processes and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will develop 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 Frost Appraisal Services, LLC, we're trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
At Frost Appraisal Services, LLC, you can trust our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings. |
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We realize what the most common reporting deficiencies are, particularly in our housing market. We also understand what represents a quality appraisal.
The professionals at Frost Appraisal Services, LLC are also adequately trained to recognize that our competition in our market are qualified to do quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly examine appraisal reports completed by others. And those others may be examining our work, too!