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Skilled Appraisal Reviews by Klier ValuationsAs 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 preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Klier Valuations, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.A review appraisal should determine: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality. The review should also signify whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the depth of the appraisal assignment. Lastly, the Fed says 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 forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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. At Klier Valuations, we're qualified in every type of appraisal review, review procedure and the obligations of review appraisers.
You can rely on Klier Valuations for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Klier Valuations for more information about our qualifications, expertise and service offerings. |
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Klier Valuations is aware of what constitutes a quality appraisal and what the most prevalent inadequacies are, especially for reports in our local real estate market.
The professionals at Klier Valuations are also adequately skilled to identify that the competitors in our market are qualified to do good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to justly assess appraisal reports carried out by others. And those others could be evaluating our work, too!