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Experienced Appraisal Reviews with Apricor, IncAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers engaged in reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Apricor, Inc provides appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's rules.The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the procedures by which the real estate valuation is attained ensures independence and quality. In addition, they must announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment. The Federal Reserve 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 conforming 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 can prepare 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 Apricor, Inc, we are qualified in all types of appraisal reviews, review procedures and the obligations of review appraisers.
Here at Apricor, Inc, you can be sure of our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered. |
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Apricor, Inc realizes what the typical report weaknesses are, particularly in our real estate market, as well as what amounts to a quality appraisal.
At the same time, we are sufficiently skilled to realize that our competitors in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly review appraisal reports completed by others. And those others could be studying our work, too!