Qualified Appraisal Reviews by Baldwin & Hufstetler Real Estate AppraiserAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Baldwin & Hufstetler Real Estate Appraiser, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality. The review must also indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the depth of the appraisal assignment. The Federal Reserve also notes 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 tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Baldwin & Hufstetler Real Estate Appraiser, we're qualified in every kind of appraisal review, review process and the obligations of review appraisers.
Baldwin & Hufstetler Real Estate Appraiser realizes what the most prevalent report weaknesses are, especially in our home market, as well as what amounts to a quality appraisal. We're also adequately experienced to admit that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Baldwin & Hufstetler Real Estate Appraiser to lawfully evaluate appraisal reports performed by others. And those others may be examining our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can count on Baldwin & Hufstetler Real Estate Appraiser. Contact us for more information regarding our qualifications, expertise and service offerings.