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Appraisal Reviews with Matthew NemethAs stated 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 performing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Matthew Nemeth provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality. They should also signify whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment. Lastly, 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 tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll 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 Matthew Nemeth, we are experienced in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
In short, at Matthew Nemeth, you can have confidence in our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Matthew Nemeth to learn more about our qualifications, expertise and service offerings. |
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We realize what the most prevalent report weaknesses are, specifically in our housing market, as well as what makes a quality appraisal.
In this regard, we are professional enough to recognize that our competitors in our market are qualified to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Matthew Nemeth to fairly assess appraisal reports completed by others. And those others may be examining our work, too!