Appraisal Reviews with Anderson Appraisal, LLC
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules, just contact Anderson Appraisal, LLC.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is attained guarantees independence and quality." Moreover, they "should denote whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some banks add routine reviews with post-funding surveys of appraisal quality for a number of their high-risk or greater-value dealings as a means to help in uncovering valuation concerns."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Anderson Appraisal, LLC, we are trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.
Anderson Appraisal, LLC understands what the most prevalent imperfections are, particularly in our real estate market, as well as what amounts to a quality appraisal. We're also adequately skilled to identify that our competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Anderson Appraisal, LLC to lawfully review appraisal reports performed by others. And those others might be evaluating our work, too!
At Anderson Appraisal, LLC, you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Anderson Appraisal, LLC to learn more about our qualifications, expertise and service offerings.