Appraisal Reviews by RL Valuation LLCAs 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 completing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." RL Valuation LLC provides appraisal review services that are objective, efficient, professional and in compliance with the Federal Reserve's regulations.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the process by which the property valuation is accomplished guarantees independence and quality. The review must also announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment. Lastly, the Federal Reserve 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".
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on RL Valuation LLC to competently review appraisal reports done by others.
In short, at RL Valuation LLC, you can rely on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact RL Valuation LLC for more information about our qualifications, expertise and services offered.