Appraisal Reviews with Anderson Appraisal, LLC
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 must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Anderson Appraisal, LLC provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. Moreover, they "should denote whether the appraisal or evaluation report is true to the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value dealings as a control to aid in uncovering valuation concerns."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can 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 all forms of appraisal reviews, review practices and the requirements of review appraisers.
We understand what the most prevalent deficiencies are, particularly in our housing market. We also know what amounts to a quality appraisal. In the same sense, we're adequately skilled to realize that our competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Anderson Appraisal, LLC to lawfully examine appraisal reports executed by others. And those others might be reviewing our work, too!
At Anderson Appraisal, LLC, you can have confidence in our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Anderson Appraisal, LLC regarding our qualifications, expertise and services offered.