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Appraisal Reviews by Miller 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 appraisers doing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Miller Appraisal Services, LLC provides appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.A review appraisal should detect: whether the original appraisal or evaluation is relevant for the transaction, the risk inherit in the transaction, and whether the actions by which the real estate valuation is rendered guarantees independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the outlook of the appraisal assignment. Lastly, 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 adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will 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 Miller Appraisal Services, LLC, we're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
For professional, impartial, ethical appraisal review services and honest judgments, you can rely on Miller Appraisal Services, LLC. Contact Miller Appraisal Services, LLC for more information regarding our qualifications, expertise and service offerings. |
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We are familiar with what represents a quality appraisal and what the most frequent inadequacies are, particularly when it comes to our local real estate market. The professionals at Miller Appraisal Services, LLC are also experienced enough to admit that our competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Miller Appraisal Services, LLC to fairly look over appraisal reports performed by others. And those others might be studying our work, too!