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Hillman Appraisal Services Appraisal ReviewsAccording 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 call of appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Hillman Appraisal Services provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.A review appraisal has to find out: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the actions by which the property valuation is obtained ensures independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the extent of the appraisal assignment. The Federal Reserve also goes on to say 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 practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll 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 Hillman Appraisal Services, we are trained in every kind of appraisal review, review procedure and the requirements of review appraisers.
For professional, unbiased, ethical appraisal review services and honest judgments, you can count on Hillman Appraisal Services. Contact Hillman Appraisal Services for more information regarding our qualifications, expertise and service offerings. |
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We realize what the most common report weaknesses are, especially in our housing market, as well as what makes a quality appraisal.
In the same regard, we are professional enough to identify that our competition in our market are able to do a fine job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Hillman Appraisal Services to fairly study appraisal reports completed by others. And those others could be reviewing our work, too!