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Expert Appraisal Reviews with Ebb and Flow AppraisalsAs 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 it's the duty of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Ebb and Flow Appraisals provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's regulations.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is appropriate for the transaction, the exposure inherit in the transaction, and whether the actions by which the property valuation is rendered guarantees independence and quality. In addition, they must denote whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment. The Fed 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 conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll prepare 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 Ebb and Flow Appraisals, we are trained in all forms of appraisal reviews, review processes and the obligations of review appraisers.
For professional, objective, ethical appraisal review services and independent judgments, you can rely on Ebb and Flow Appraisals. Contact us regarding our qualifications, expertise and service offerings. |
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We understand what the typical report defects are, especially in our home market, as well as what constitutes a quality appraisal.
We're also sufficiently skilled to admit that the competitors in our market are capable of doing good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically examine appraisal reports executed by others. And those others might be examining our work, too!