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Expert Appraisal Reviews with Delmarva Appraisals LLCAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the call of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Delmarva Appraisals LLC, we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's regulations.A review appraisal has to ascertain: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the manners by which the real estate valuation is attained ensures independence and quality. In addition, they should show whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the scope of the appraisal assignment. The Federal Reserve also notes 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 regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can 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 Delmarva Appraisals LLC, we're skilled in every type of appraisal review, review practice and the requirements of review appraisers.
When you choose Delmarva Appraisals LLC, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings. |
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Delmarva Appraisals LLC understands what the typical report deficiencies are, specifically in our housing market, as well as what makes a quality appraisal.
We're also skilled enough to identify 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 fairly valuate appraisal reports executed by others. And those others may be reviewing our work, too!