Quality Appraisal Reviews with Anderson Appraisal, LLC
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews should "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Anderson Appraisal, LLC provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. In addition, they "should indicate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or greater-value contracts as a control to help in discovering valuation complications."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Anderson Appraisal, LLC, we're trained in every type of appraisal review, review practice and the obligations of review appraisers.
We realize what the greatest defects are, particularly in our housing market, as well as what constitutes a quality appraisal. We're also adequately trained to recognize that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Anderson Appraisal, LLC to ethically examine appraisal reports carried out by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can count on Anderson Appraisal, LLC. Contact us for more information about our qualifications, expertise and service offerings.