Appraisal Reviews with Weaver Appraisal Group
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, contact Weaver Appraisal Group.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Weaver Appraisal Group today.
Appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or greater-value transactions as a way to aid in revealing valuation dilemmas."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can develop 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 are skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.
We're aware of what represents a quality appraisal and what the most common weaknesses are, specifically in our real estate market. In this regard, we're trained enough to recognize that our competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Weaver Appraisal Group to justly evaluate appraisal reports performed by others. And those others may be evaluating our work, too!
You can depend on Weaver Appraisal Group for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Weaver Appraisal Group for more information about our qualifications, expertise and services offered.