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Appraisal Reviews by Venture Appraisal, Inc.According to 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 should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Venture Appraisal, Inc. provides appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.A review appraisal has to find out: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality. Moreover, they must show whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the range of the appraisal assignment. The Federal Reserve 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 regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Venture Appraisal, Inc., we're experienced in every form of appraisal review, review process and the requirements of review appraisers.
You can trust Venture Appraisal, Inc. for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Venture Appraisal, Inc. to learn more about our qualifications, expertise and service offerings. |
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Venture Appraisal, Inc. understands what the typical report defects are, especially in our housing market, as well as what makes a quality appraisal.
We're also amply trained to respect that the competitors in our market are able to do a great 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 objectively evaluate appraisal reports carried out by others. And those others might be studying our work, too!