Complete Appraisal Reviews by Amerigroup AppraisalsAs 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 fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Amerigroup Appraisals, we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.
A review appraisal should ascertain: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the practices by which the real estate valuation is rendered guarantees independence and quality. In addition, they should show whether the appraisal or evaluation report is in line with the engagement letter, which gives an account of the capacity of the appraisal assignment. The Federal Reserve 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 coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically 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 Amerigroup Appraisals, we're experienced in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We are aware of what the most prevalent reporting deficiencies are, specifically in our home market. We also know what amounts to a quality appraisal. We're also adequately trained to respect that the competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully evaluate appraisal reports completed by others. And those others could be evaluating our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can count on Amerigroup Appraisals. Contact us for more information about our qualifications, expertise and services offered.