As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews should "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Anderson Appraisal, LLC, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should find out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for some of their higher-liability or larger-value contracts as a control to assist in revealing valuation complications."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any one 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 kind of appraisal review, review procedure and the obligations of review appraisers.
We realize what amounts to a quality appraisal and what the most common weaknesses are, especially in our real estate market. The professionals at Anderson Appraisal, LLC are also skilled enough to identify that our competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Anderson Appraisal, LLC to justly assess appraisal reports performed by others. And those others may be examining our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can depend on Anderson Appraisal, LLC. Contact Anderson Appraisal, LLC for more information about our qualifications, expertise and services offered.