Appraisal Reviews with The Benchmark Group IncAs stated 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 expectation of appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." The Benchmark Group Inc provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.
A review appraisal has to ascertain: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the actions by which the real estate valuation is rendered ensures independence and quality. They must also announce whether the appraisal or evaluation report is compatible with the engagement letter, which describes the reach of the appraisal assignment. 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 conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate 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 The Benchmark Group Inc, we are skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We are aware of what represents a quality appraisal and what the greatest defects are, specifically when it comes to our local real estate market. In this regard, we're skilled enough to realize that our competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on The Benchmark Group Inc to fairly valuate appraisal reports completed by others. And those others could be evaluating our work, too!
You can trust The Benchmark Group Inc for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact The Benchmark Group Inc for more information regarding our qualifications, expertise and service offerings.