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Experienced Appraisal Reviews with Genesis Appraisal Group
According to an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers completing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Genesis Appraisal Group provides appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's rules.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the process by which the property valuation is rendered guarantees independence and quality.
They should also signify whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment.
Lastly, the Fed also 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 tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll 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 Genesis Appraisal Group, we are skilled in every type of appraisal review, review practice and the obligations of review appraisers.
We realize what makes a quality appraisal and what the biggest errors are, especially in our local housing market.
We're also skilled enough to distinguish that the 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 fairly look over appraisal reports done by others. And those others might be examining our work, too!
You can rely on Genesis Appraisal Group for our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients.
Contact us for more information about our qualifications, expertise and services offered.
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