Bittner Appraisal Group LLC Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines, contact Bittner Appraisal Group LLC.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Bittner Appraisal Group LLC today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or high-value contracts as a method to aid in uncovering valuation dilemmas."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will produce 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 Bittner Appraisal Group LLC, we are skilled in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what amounts to a quality appraisal and what the biggest defects are, especially in our home market. At the same time, the professionals at Bittner Appraisal Group LLC are sufficiently experienced to identify that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Bittner Appraisal Group LLC to justly assess appraisal reports executed by others. And those others might be examining our work, too!
In short, when you choose Bittner Appraisal Group LLC, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.