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Complete Appraisal Reviews by Keystone Appraisal Co.According 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 prudent for appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Keystone Appraisal Co. provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the methods by which the property valuation is rendered guarantees independence and quality. They should also announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the reach 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 adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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. Here at Keystone Appraisal Co., we're experienced in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
At Keystone Appraisal Co., you can be sure of our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered. |
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Keystone Appraisal Co. realizes what the biggest reporting imperfections are, especially in our housing market. We also know what represents a quality appraisal.
At the same time, we are experienced enough to acknowledge that our competition in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly assess appraisal reports carried out by others. And those others could be examining our work, too!