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Skilled Appraisal Reviews with Northpointe AppraisalsAs 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 appraisers fulfilling reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Northpointe Appraisals provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.A review appraisal should ascertain: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the practices by which the collateral valuation is rendered guarantees independence and quality. In addition, they should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment. Lastly, the Federal Reserve 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 tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll produce 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 Northpointe Appraisals, we're skilled in all forms of appraisal reviews, review practices and the obligations of review appraisers.
For professional, unbiased, ethical appraisal review services and honest judgments, you can depend on Northpointe Appraisals. Contact us to learn more about our qualifications, expertise and service offerings. |
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Northpointe Appraisals is aware of what makes a quality appraisal and what the greatest deficiencies are, particularly for reports in our local housing market.
Concurrently, we are trained enough to respect that our competitors in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Northpointe Appraisals to lawfully valuate appraisal reports completed by others. And those others may be studying our work, too!