For appraisal review services in Bowie, contact Richey Appraisals

Getting a second opinion on an appraisal

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 engaged in reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Richey Appraisals, we provide appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's regulations.

A review appraisal has to find out: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the means by which the real estate valuation is acquired guarantees independence and quality. They must also signify whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment. Lastly, the Federal Reserve 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".


	If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call Richey Appraisals today.

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will develop 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 Richey Appraisals, we are skilled in every form of appraisal review, review procedure and the responsibilities of review appraisers.

For appraisal review services in Bowie, contact Richey Appraisals We're aware of what the most common report defects are, especially in our real estate market, as well as what amounts to a quality appraisal. Concurrently, we're sufficiently trained to distinguish that our competitors 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 rely on us to ethically evaluate appraisal reports executed by others. And those others could be examining our work, too!

You can depend on Richey Appraisals for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.