Expert Appraisal Reviews with Howard Goldstein and AssociatesAccording 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 preparing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Howard Goldstein and Associates provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules.
A review appraisal should pursue: whether the original appraisal or evaluation is appropriate for the transaction, the exposure inherit in the transaction, and whether the manners by which the property valuation is obtained ensures independence and quality. The review should also denote whether the appraisal or evaluation report is true to the letter of engagement, 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 coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Howard Goldstein and Associates, we're experienced in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
Howard Goldstein and Associates realizes what amounts to a quality appraisal and what the most prevalent errors are, specifically when it comes to our home market. In the same regard, we are skilled enough to distinguish that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically examine appraisal reports performed by others. And those others may be reviewing our work, too!
In short, when you choose Howard Goldstein and Associates, you can rely on our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.