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Complete Appraisal Reviews with Appraisals by Deb LewellenAccording to 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 obligation of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Appraisals by Deb Lewellen, we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the procedure by which the real estate valuation is attained ensures independence and quality. The review must also signify whether the appraisal or evaluation report is in line with the letter of engagement, which describes the extent of the appraisal assignment. Lastly, the Federal Reserve 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 adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll 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 Appraisals by Deb Lewellen, we're skilled in every type of appraisal review, review procedure and the requirements of review appraisers.
You can depend on Appraisals by Deb Lewellen for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Appraisals by Deb Lewellen regarding our qualifications, expertise and services offered. |
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We are aware of what the most prevalent report defects are, especially in our home market, as well as what constitutes a quality appraisal.
In the same sense, we're experienced enough to distinguish that the competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Appraisals by Deb Lewellen to ethically look over appraisal reports done by others. And those others might be examining our work, too!