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Savard Appraisal Services Inc. Appraisal ReviewsAs said 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 producing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Savard Appraisal Services Inc., we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.A review appraisal has to find out: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the actions by which the collateral valuation is obtained ensures independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the extent of the appraisal assignment. The Fed goes on to say 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 typically used for review services, and we will 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 Savard Appraisal Services Inc., we're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
You can rely on Savard Appraisal Services Inc. for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Savard Appraisal Services Inc. for more information regarding our qualifications, expertise and services offered. |
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We're aware of what the biggest reporting defects are, particularly in our home market. We also understand what makes a quality appraisal.
The professionals at Savard Appraisal Services Inc. are also experienced enough to identify that our competitors in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to objectively review appraisal reports performed by others. And those others could be reviewing our work, too!