Marlowe Appraisal & RE Inc. Appraisal ReviewsAccording to 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 call of appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Marlowe Appraisal & RE Inc., we provide appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is well-suited for the transaction, the risk inherit in the transaction, and whether the manners by which the real estate valuation is attained ensures independence and quality. They must also show whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the extent of the appraisal assignment. The Fed 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 coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Marlowe Appraisal & RE Inc., we're skilled in all types of appraisal reviews, review procedures and the obligations of review appraisers.
We are familiar with what the most frequent reporting inadequacies are, specifically in our home market. We also know what constitutes a quality appraisal. At the same time, the professionals at Marlowe Appraisal & RE Inc. are amply trained to recognize that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly evaluate appraisal reports done by others. And those others might be examining our work, too!
You can depend on Marlowe Appraisal & RE Inc. for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Marlowe Appraisal & RE Inc. regarding our qualifications, expertise and service offerings.