Qualified Appraisal Reviews by Hagan Real Estate, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews have to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Hagan Real Estate, Inc. provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Hagan Real Estate, Inc. today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or higher-value affairs as a means to help in uncovering valuation complications."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will formulate 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 Hagan Real Estate, Inc., we are skilled in every type of appraisal review, review practice and the responsibilities of review appraisers.
We are familiar with what the biggest imperfections are, specifically in our real estate market, as well as what amounts to a quality appraisal. In the same regard, we're trained enough to know that our competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to objectively review appraisal reports carried out by others. And those others could be evaluating our work, too!
You can rely on Hagan Real Estate, Inc. for our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Hagan Real Estate, Inc. for more information regarding our qualifications, expertise and service offerings.