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Richard Mulderick FVM Appraisals Appraisal ReviewsAs said 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 completing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Richard Mulderick FVM Appraisals provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.A review appraisal should reveal: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality. They should also announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope 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 conforming 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 will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Richard Mulderick FVM Appraisals, we are trained in every kind of appraisal review, review process and the responsibilities of review appraisers.
In short, here at Richard Mulderick FVM Appraisals, you can trust our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered. |
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We know what the most prevalent report defects are, specifically in our home market, as well as what constitutes a quality appraisal.
In the same regard, the professionals at Richard Mulderick FVM Appraisals are amply experienced to realize that the competitors in our market are capable of doing a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Richard Mulderick FVM Appraisals to ethically look over appraisal reports completed by others. And those others may be examining our work, too!