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Getting a second opinion on an appraisalAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Paul Hildebranski Appraisal Service, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's guidelines.A review appraisal has to detect: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the process by which the real estate valuation is acquired ensures independence and quality. The review must also indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the reach of the appraisal assignment. The Fed also 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 conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will 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. At Paul Hildebranski Appraisal Service, we are skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
For professional, objective, ethical appraisal review services and truthful judgments, you can depend on Paul Hildebranski Appraisal Service. Contact Paul Hildebranski Appraisal Service regarding our qualifications, expertise and service offerings. |
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We're aware of what makes a quality appraisal and what the most common inadequacies are, particularly in our home market.
We're also trained enough to recognize that the competition in our market are capable of a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Paul Hildebranski Appraisal Service to fairly look over appraisal reports completed by others. And those others may be evaluating our work, too!