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Appraisal Reviews with Oregon Residential Appraisal 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 call of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Oregon Residential Appraisal LLC provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.A review appraisal should determine: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the processes by which the real estate valuation is acquired ensures independence and quality. They should also signify whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the range of the appraisal assignment. The Federal Reserve also 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 adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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. At Oregon Residential Appraisal LLC, we are skilled in every form of appraisal review, review procedure and the obligations of review appraisers.
In short, at Oregon Residential Appraisal LLC, you can have confidence in our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Oregon Residential Appraisal LLC for more information regarding our qualifications, expertise and services offered. |
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We're aware of what amounts to a quality appraisal and what the most prevalent imperfections are, specifically when it comes to our local housing market.
We're also sufficiently trained to distinguish that the competition in our market are qualified to do a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Oregon Residential Appraisal LLC to ethically look over appraisal reports completed by others. And those others might be examining our work, too!