As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Weaver Appraisal Group, we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "ought to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. In addition, they "should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce typical reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value dealings as a way to assist in detecting valuation concerns."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can produce 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 Weaver Appraisal Group, we're qualified in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what the most common weaknesses are, particularly in our housing market. We also know what makes a quality appraisal. In this regard, we're proficient enough to distinguish that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Weaver Appraisal Group to fairly valuate appraisal reports carried out by others. And those others could be reviewing our work, too!
Here at Weaver Appraisal Group, you can be sure of our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.