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Qualified Appraisal Reviews with Pitcher & Associates, LLCAs 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 appraisers undertaking reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Pitcher & Associates, LLC, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the methods by which the property valuation is accomplished ensures independence and quality. Moreover, they must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment. Lastly, 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 forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 Pitcher & Associates, LLC, we are experienced in every kind of appraisal review, review procedure and the requirements of review appraisers.
At Pitcher & Associates, LLC, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings. |
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We realize what the most frequent report deficiencies are, specifically in our housing market, as well as what makes a quality appraisal.
We're also skilled enough to know that the competitors in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Pitcher & Associates, LLC to justly examine appraisal reports performed by others. And those others might be studying our work, too!