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Skilled Appraisal Reviews by Hier Appraisals LLCAs 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 it's the duty of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Hier Appraisals LLC provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is well-suited for the transaction, the risk inherit in the transaction, and whether the method by which the real estate valuation is rendered ensures independence and quality. The review must also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the depth of the appraisal assignment. Lastly, the Federal Reserve also states 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 regulations 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. Here at Hier Appraisals LLC, we are skilled in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
You can rely on Hier Appraisals LLC for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered. |
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We are familiar with what makes a quality appraisal and what the biggest errors are, particularly when it comes to our local real estate market.
At the same time, the professionals at Hier Appraisals LLC are amply skilled to recognize that the competitors in our market are capable of a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Hier Appraisals LLC to lawfully assess appraisal reports done by others. And those others might be reviewing our work, too!