Qualified Appraisal Reviews by R.B.Hill CompanyAccording 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 call of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." R.B.Hill Company provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the practices by which the property valuation is rendered ensures independence and quality. They must also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment. The Federal Reserve also goes on to say 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 practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At R.B.Hill Company, we are trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
R.B.Hill Company realizes what the typical report imperfections are, specifically in our home market, as well as what represents a quality appraisal. We're also trained enough to distinguish that the competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to justly study appraisal reports performed by others. And those others might be evaluating our work, too!
You can depend on R.B.Hill Company for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact R.B.Hill Company for more information regarding our qualifications, expertise and services offered.