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Getting a second opinion on an appraisalAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers producing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Robbins-Marine Property Valuation, Inc., we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's guidelines.A review appraisal has to find out: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the methods by which the collateral valuation is rendered guarantees independence and quality. The review should also signify whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the extent of the appraisal assignment. 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 adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can prepare 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 Robbins-Marine Property Valuation, Inc., we're qualified in all forms of appraisal reviews, review processes and the requirements of review appraisers.
For professional, fair, ethical appraisal review services and independent judgments, you can rely on Robbins-Marine Property Valuation, Inc.. Contact Robbins-Marine Property Valuation, Inc. to learn more about our qualifications, expertise and service offerings. |
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We know what the most frequent report weaknesses are, particularly in our home market, as well as what constitutes a quality appraisal.
The professionals at Robbins-Marine Property Valuation, Inc. are also trained enough to realize that our competitors in our market are capable of a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Robbins-Marine Property Valuation, Inc. to lawfully look over appraisal reports executed by others. And those others could be evaluating our work, too!