Appraisal Reviews with Carter Appraisal Group L.L.C.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 appraisers doing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Carter Appraisal Group L.L.C. provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the procedures by which the real estate valuation is obtained ensures independence and quality. They should also show whether the appraisal or evaluation report is true to the letter of engagement, which describes the depth of the appraisal assignment. The Fed also 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 regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will produce 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 Carter Appraisal Group L.L.C., we are skilled in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what the most prevalent reporting defects are, particularly in our real estate market. We also know what constitutes a quality appraisal. The professionals at Carter Appraisal Group L.L.C. are also experienced enough to distinguish that the competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Carter Appraisal Group L.L.C. to fairly review appraisal reports completed by others. And those others might be examining our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can count on Carter Appraisal Group L.L.C.. Contact Carter Appraisal Group L.L.C. to learn more about our qualifications, expertise and services offered.