Appraisal Reviews with Weaver Appraisal Group
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Weaver Appraisal Group, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, call us today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for some of their high-risk or greater-value dealings as a channel to assist in discovering valuation problems."
In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will prepare 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 Weaver Appraisal Group, we are qualified in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
Weaver Appraisal Group knows what the most common inadequacies are, specifically in our home market, as well as what makes a quality appraisal. We're also skilled enough to admit that our competition in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly valuate appraisal reports done by others. And those others might be reviewing our work, too!
At Weaver Appraisal Group, you can rely on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Weaver Appraisal Group regarding our qualifications, expertise and service offerings.