Complete Appraisal Reviews by Meier Appraisal Service, Inc.As 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 it's the obligation of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Meier Appraisal Service, Inc., we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations.
A review appraisal has to reveal: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment. The Fed 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 conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can develop 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 Meier Appraisal Service, Inc., we are skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.
We realize what represents a quality appraisal and what the most frequent defects are, especially when it comes to our home market. The professionals at Meier Appraisal Service, Inc. are also skilled enough to distinguish that our competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Meier Appraisal Service, Inc. to justly study appraisal reports carried out by others. And those others might be examining our work, too!
In short, when you choose Meier Appraisal Service, Inc., you can rely on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.