Legg Appraisals Appraisal ReviewsAs stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Legg Appraisals provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules. 
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact Legg Appraisals today. As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality." They "should also announce whether the appraisal or evaluation report is even with the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some banks add periodic reviews with post-funding surveys of appraisal quality for a number of their high-risk or high-value affairs as a way to assist in revealing valuation complications." In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely 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 Legg Appraisals, we are qualified in every type of appraisal review, review procedure and the requirements of review appraisers. We are familiar with what represents a quality appraisal and what the greatest inadequacies are, especially in our home market. The professionals at Legg Appraisals are also trained enough to admit that our competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Legg Appraisals to ethically evaluate appraisal reports done by others. And those others could be studying our work, too! In short, when you choose Legg Appraisals, you can rely on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Legg Appraisals for more information regarding our qualifications, expertise and services offered. |