Expert Appraisal Reviews with Anderson Appraisal, LLC
According to a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At Anderson Appraisal, LLC, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for any of their higher-risk or greater-value affairs as a way to help in revealing valuation concerns."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Anderson Appraisal, LLC, we're skilled in every type of appraisal review, review procedure and the responsibilities of review appraisers.
We are aware of what the biggest inadequacies are, specifically in our real estate market, as well as what constitutes a quality appraisal. We're also experienced enough to realize that our competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Anderson Appraisal, LLC to justly examine appraisal reports performed by others. And those others might be studying our work, too!
You can rely on Anderson Appraisal, LLC for our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.