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EQUITY APPRAISAL COMPANY Appraisal Reviews in Macomb, Oakland and Wayne CountiesAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at EQUITY APPRAISAL COMPANY, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's regulations.
A review appraisal has to reveal: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the procedures by which the real estate valuation is rendered ensures independence and quality. The review should also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment. Lastly, the Federal Reserve 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 coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can 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 EQUITY APPRAISAL COMPANY, we're qualified in every type of appraisal review, review practice and the obligations of review appraisers.
 EQUITY APPRAISAL COMPANY is aware of what amounts to a quality appraisal and what the most common errors are, particularly in our local housing market. At the same time, we're adequately experienced to distinguish that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to justly review appraisal reports carried out by others. And those others could be examining our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can rely on EQUITY APPRAISAL COMPANY. Contact us for more information regarding our qualifications, expertise and service offerings.
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