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Appraisal Reviews by Boivin Appraisals, Inc.As said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers producing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Boivin Appraisals, Inc., we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the manners by which the property valuation is attained guarantees independence and quality. In addition, they should signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment. Lastly, 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 tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Boivin Appraisals, Inc., we are qualified in every form of appraisal review, review procedure and the responsibilities of review appraisers.
In short, when you choose Boivin Appraisals, Inc., you can trust our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Boivin Appraisals, Inc. regarding our qualifications, expertise and service offerings. |
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We are aware of what represents a quality appraisal and what the biggest deficiencies are, especially in our local real estate market. In the same regard, the professionals at Boivin Appraisals, Inc. are sufficiently trained to respect that the competition 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 count on us to ethically examine appraisal reports completed by others. And those others may be studying our work, too! Got a Question?
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