Appraisal Reviews by Anderson Appraisals
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines, just contact Anderson Appraisals.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value dealings as a channel to aid in revealing valuation problems."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll prepare 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 Appraisals, we're trained in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We realize what the biggest imperfections are, specifically in our housing market. We also know what constitutes a quality appraisal. In the same regard, we're adequately experienced to respect that the competition in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Anderson Appraisals to ethically examine appraisal reports executed by others. And those others may be examining our work, too!
In short, at Anderson Appraisals, you can rely on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Anderson Appraisals regarding our qualifications, expertise and services offered.