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Rob Harris Appraisal ReviewsAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers doing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Rob Harris, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the processes by which the real estate valuation is obtained ensures independence and quality. They must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the reach of the appraisal assignment. Lastly, the Fed 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 tailoring 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 can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Rob Harris, we're skilled in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
In short, when you choose Rob Harris, you can rely on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Rob Harris for more information about our qualifications, expertise and services offered. |
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We are aware of what the greatest reporting imperfections are, specifically in our real estate market. We also understand what represents a quality appraisal.
We're also sufficiently trained to know that our competitors in our market are skillful in doing a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to justly valuate appraisal reports executed by others. And those others may be examining our work, too!