For appraisal review services in Fayette, contact Russell Appraisal Service

Getting a second opinion on an appraisal

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 have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Russell Appraisal Service provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines.

A review appraisal should determine: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the actions by which the collateral valuation is attained ensures independence and quality. In addition, they should signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the range of the appraisal assignment. Lastly, the Fed 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".


	If you're in the need of a real estate appraisal review for pre-loan funding, or a thorough comprehensive retrospective appraisal review, contact us today.

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will formulate 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 Russell Appraisal Service, we're trained in every kind of appraisal review, review practice and the obligations of review appraisers.

For appraisal review services in Fayette, contact Russell Appraisal Service We realize what the typical report defects are, particularly in our real estate market, as well as what makes a quality appraisal. The professionals at Russell Appraisal Service are also sufficiently trained to recognize that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly evaluate appraisal reports completed by others. And those others might be evaluating our work, too!

Here at Russell Appraisal Service, you can have confidence in our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.