Appraisal Reviews by Brickhouse Appraisals, LLC,As 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 doing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Brickhouse Appraisals, LLC, provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's guidelines.
A review appraisal has to ascertain: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the actions by which the real estate valuation is obtained ensures independence and quality. The review should also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment. The Federal Reserve also notes 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 procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Brickhouse Appraisals, LLC,, we're experienced in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
Brickhouse Appraisals, LLC, is aware of what represents a quality appraisal and what the most frequent errors are, specifically in our home market. We're also skilled enough to acknowledge that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Brickhouse Appraisals, LLC, to objectively valuate appraisal reports executed by others. And those others may be evaluating our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on Brickhouse Appraisals, LLC,. Contact Brickhouse Appraisals, LLC, regarding our qualifications, expertise and service offerings.