Whether completing Evaluations or Appraisal Reviews, Newmark V&A appraisers also draw on our specialty practice groups for focused expertise in unique asset types, such as Data Centers & Mission Critical; Healthcare & Seniors Housing; Hospitality, Gaming & Leisure; Industrial/Logistics; Multifamily; Office; Retail/Regional Malls; Self Storage; and Vineyards & Wineries.
An “Evaluation” is a term identified in Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) promulgated by banking regulators in 1989. An evaluation, from a regulatory perspective, is intended as a concise valuation that is appropriate for certain relatively low-risk loans. The succinct report format and reliable third-party property inspections allow us to provide cost-effective, dependable value solutions whose features include:
- USPAP and FIRREA compliance
- Exceeds regulatory guidelines for Evaluations
- Low cost
- Quick turnaround
- Ample data and analytics for the reader to understand and be confident in the value estimate
- Experienced appraisers with substantial local and/or property-type expertise
- Superior market intelligence via our proprietary database and extensive third-party information sources
- One-stop national coverage
While well-suited for low-risk, low-complexity assignments, this tool can be applied to more complex projects as well. It is also compatible with portfolio valuations and other types of appraisal requests.
Each Evaluation assignment is led by a single-point of contact, ensuring quality control, robust communication, reporting consistency and proper client care. Our custom technology platform makes use of the firm’s proprietary database as well as a wide range of specialized valuation-related tools and resources. Equipped with the most advanced tools in the industry, we develop a well-supported value opinion that empowers our clients to make decisions with confidence.
Appraisal reviews are important risk management tools to reinforce clients’ confidence in appraisal reports and are critical for regulated institutions’ compliance with the requirements of federal agencies. Newmark’s Appraisal Review team includes professionals with a broad range of geographic and property-type expertise, as well as in-depth knowledge of a wide range of appraisal standards and regulations.
Applying this experience and deploying our robust database and industry resources, our Appraisal Reviews feature:
- Objective, unbiased opinions about the quality of the appraisal report
- Conclusion about its fitness for the intended use
- Adherence of the appraisal to USPAP and other industry standards
- Compliance of the appraisal report with FIRREA and other regulatory standards.
Our review reports comply with the USPAP Standard 3 and are delivered in a concise, standardized format that is clearly written and highlights salient issues. Reports can also be tailored to meet individual client needs.