|
|
Complete Appraisal Reviews by Tejas Appraisal CompanyAccording to a statement 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 fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Tejas Appraisal Company, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.
Tejas Appraisal Company's reviews detect: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the methods by which the real estate valuation is attained guarantees independence and quality. We also must show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Federal Reserve also 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 conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely 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. At Tejas Appraisal Company, we're trained in every form of appraisal review, review practice and the responsibilities of review appraisers.
Tejas is familiar with what the most frequent reporting weaknesses are, particularly in our housing markets of the Texas Hill Country and San Antonio. We also know what constitutes a quality appraisal. The professionals at Tejas Appraisal Company and Certified Appraiser Dave Drapela are also sufficiently experienced to respect that the competitors in our market are capable of 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 Tejas Appraisal Company to justly assess appraisal reports executed by others.
In short, here at Tejas Appraisal Company, you can be sure of our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Tejas Appraisal Company for more information regarding our qualifications, expertise and services offered.
|
|
