Complete Appraisal Reviews by Pocono Mountain Appraisal, Inc.According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the obligation of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Pocono Mountain Appraisal, Inc. provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is pertinent for the transaction, the liability inherit in the transaction, and whether the means by which the property valuation is acquired ensures independence and quality. They should also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the scope of the appraisal assignment. The Fed also 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 coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will 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. Here at Pocono Mountain Appraisal, Inc., we're qualified in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We realize what the biggest reporting inadequacies are, specifically in our home market. We also know what amounts to a quality appraisal. At the same time, we're professional enough to acknowledge that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Pocono Mountain Appraisal, Inc. to fairly study appraisal reports executed by others. And those others might be reviewing our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can depend on Pocono Mountain Appraisal, Inc.. Contact us for more information about our qualifications, expertise and service offerings.