Experienced Appraisal Reviews by New Jersey Realty Advisory Group, LLC.
appraisal review services
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at New Jersey Realty Advisory Group, LLC., we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's guidelines.
Appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. Moreover, they "must announce whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or larger-value contracts as a way to aid in addressing valuation issues."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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. At New Jersey Realty Advisory Group, LLC., we're trained in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
New Jersey Realty Advisory Group, LLC. understands what the most prevalent defects are, particularly in our home market. We also know what constitutes a quality appraisal. The professionals at New Jersey Realty Advisory Group, LLC. are also trained enough to identify that our competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically examine appraisal reports carried out by others. And those others might be evaluating our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can count on New Jersey Realty Advisory Group, LLC.. Contact us to learn more about our qualifications, expertise and service offerings.