Real Estate Appraisal Review Services
In a recent article, the Federal Reserve stated that "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Missouri Property Appraisal, Inc. through its network of appraisers can provide appraisal review services that are geographically competent, independent, qualified, professional and conform with the letter and intent of the guidelines of the Federal Reserve's, Fannie Mae, Freddie Mac and other regulatory entities.
Quality Assurance Reviews:
In addition to conforming our work to the forms and guidelines of our review clients, there are several Fannie Mae formats that are generally 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.
Retrospective and Forensic Appraisal Services:
Due to our extensive market data we are capable of preparing retrospective review or ”forensic” appraisals to better help your quality assurance personnel evaluate the precise market climate and process employed in a prior loan approval. The appraisers of Missouri Property Appraisal, Inc. are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers and are prepared two accommodate the unique and varying needs of your underwriting and quality assurance functions.
We understand what makes a quality appraisal and what the most common deficiencies are, especially within the numerous markets that we serve. However, we also recognize that many of our colleagues in these markets are similarly capable providing credible and well supported appraisal. Just like the appraisal process, appraisal reviews are governed by the Uniform Standards of Professional Appraisal Practice (USPAP). In choosing Missouri Property Appraisal, Inc. you can be assured of receiving an unbiased, ethically and competently developed review of appraisal reports performed by others.