Polaris Real Estate & Appraisal, Inc. Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Polaris Real Estate & Appraisal, Inc., we provide appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for a few of their high-liability or larger-value affairs as a way to aid in exposing valuation dilemmas."
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Polaris Real Estate & Appraisal, Inc., we are qualified in every kind of appraisal review, review practice and the requirements of review appraisers.
Polaris Real Estate & Appraisal, Inc. understands what the most prevalent defects are, especially in our home market, as well as what constitutes a quality appraisal. In this regard, we're experienced enough to respect that our competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to lawfully review appraisal reports executed by others. And those others may be examining our work, too!
You can depend on Polaris Real Estate & Appraisal, Inc. for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.