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Complete Appraisal Reviews by Lane Appraisal Services, LLC
As said in an announcement
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 undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Lane Appraisal Services, LLC provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality.
The review must also indicate whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the scope of the appraisal assignment.
Lastly, the Federal Reserve also states 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 adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll develop 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 Lane Appraisal Services, LLC, we're qualified in every type of appraisal review, review practice and the requirements of review appraisers.
We understand what the most common report weaknesses are, particularly in our real estate market, as well as what makes a quality appraisal.
At the same time, we are professional enough to distinguish that our competitors in our market are skillful in doing quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to ethically evaluate appraisal reports done by others. And those others could be reviewing our work, too!
In short, here at Lane Appraisal Services, LLC, you can have confidence in our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients.
Contact us for more information regarding our qualifications, expertise and service offerings.
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