Quality Appraisal Reviews with Weaver Appraisal Group
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews have to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Weaver Appraisal Group provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Weaver Appraisal Group today.
Appraisal reviews "should find out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. In addition, they "must indicate whether the appraisal or evaluation report matches the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks add periodic reviews with post-funding assessments of appraisal quality for some of their higher-risk or larger-value contracts as a channel to assist in discovering valuation dilemmas."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can develop 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 Weaver Appraisal Group, we are trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.
Weaver Appraisal Group is aware of what the most prevalent defects are, particularly in our real estate market, as well as what constitutes a quality appraisal. We're also adequately trained to know that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively study appraisal reports completed by others. And those others might be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can rely on Weaver Appraisal Group. Contact us for more information regarding our qualifications, expertise and service offerings.