Appraisal Reviews with Neu Real EstateAs 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 expectation of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Neu Real Estate provides appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the means by which the property valuation is obtained guarantees independence and quality. They should also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the depth of the appraisal assignment. Lastly, the Fed 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 adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can 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 Neu Real Estate, we are experienced in every form of appraisal review, review practice and the requirements of review appraisers.
Neu Real Estate realizes what the most common report imperfections are, particularly in our housing market, as well as what amounts to a quality appraisal. We're also amply skilled to identify that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Neu Real Estate to lawfully valuate appraisal reports performed by others. And those others might be studying our work, too!
For professional, objective, ethical appraisal review services and truthful judgments, you can depend on Neu Real Estate. Contact Neu Real Estate for more information about our qualifications, expertise and services offered.