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Getting a second opinion on an appraisalAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Shreveport Appraisal Services LLC, we provide appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's regulations.
A review appraisal should reveal: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the method by which the property valuation is obtained ensures independence and quality. In addition, they must indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the capacity 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 adapting 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 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 Shreveport Appraisal Services LLC, we are qualified in all forms of appraisal reviews, review practices and the obligations of review appraisers.
 Shreveport Appraisal Services LLC is aware of what the most likely report inadequacies are, particularly in our real estate market, as well as what constitutes a quality appraisal. The professionals at Shreveport Appraisal Services LLC are also amply experienced to realize that our competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Shreveport Appraisal Services LLC to fairly assess appraisal reports carried out by others. And those others may be evaluating our work, too!
At Shreveport Appraisal Services LLC, you can trust our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Shreveport Appraisal Services LLC for more information regarding our qualifications, expertise and services offered.
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