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Complete Appraisal Reviews with Morteza TehraniAs 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 appraisers completing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Morteza Tehrani, we provide appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is pertinent for the transaction, the liability inherit in the transaction, and whether the actions by which the real estate valuation is attained guarantees independence and quality. Moreover, they should demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the capacity of the appraisal assignment. The Fed says 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 adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can 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 Morteza Tehrani, we're trained in every kind of appraisal review, review process and the obligations of review appraisers.
For professional, objective, ethical appraisal review services and truthful judgments, you can count on Morteza Tehrani. Contact Morteza Tehrani for more information about our qualifications, expertise and services offered. |
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We understand what represents a quality appraisal and what the most frequent defects are, especially in our home market.
In the same sense, the professionals at Morteza Tehrani are adequately skilled to respect that our competitors in our market are capable of a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to lawfully evaluate appraisal reports carried out by others. And those others may be reviewing our work, too!