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Complete Appraisal Reviews by Herrenbruck Appraisals, LLCAs said in 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 responsibility of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Herrenbruck Appraisals, LLC provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's rules.A review appraisal should ascertain: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the method by which the property valuation is rendered ensures independence and quality. They should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the reach of the appraisal assignment. The Fed 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 tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will prepare 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 Herrenbruck Appraisals, LLC, we are qualified in every type of appraisal review, review practice and the requirements of review appraisers.
In short, when you choose Herrenbruck Appraisals, LLC, you can count on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings. |
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Herrenbruck Appraisals, LLC realizes what represents a quality appraisal and what the greatest deficiencies are, particularly for reports in our local housing market.
We're also skilled enough to know that the competitors in our market are capable of doing quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Herrenbruck Appraisals, LLC to ethically evaluate appraisal reports performed by others. And those others might be evaluating our work, too!