Appraisal Reviews by Infinite Appraisal Services, LLCAs stated 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 obligation of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Infinite Appraisal Services, LLC provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the method by which the real estate valuation is rendered guarantees independence and quality. Moreover, they should denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the scope of the appraisal assignment. Lastly, the Fed 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 adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Infinite Appraisal Services, LLC, we're experienced in every type of appraisal review, review practice and the responsibilities of review appraisers.
Infinite Appraisal Services, LLC is aware of what makes a quality appraisal and what the biggest imperfections are, especially when it comes to our local real estate market. The professionals at Infinite Appraisal Services, LLC are also skilled enough to admit that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Infinite Appraisal Services, LLC to justly look over appraisal reports completed by others. And those others may be evaluating our work, too!
In short, at Infinite Appraisal Services, LLC, you can have confidence in our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.