Appraisal Reviews with Weaver Appraisal Group
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Weaver Appraisal Group provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Weaver Appraisal Group today.
According to the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is obtained ensures independence and quality." In addition, they "must announce whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for some of their higher-liability or larger-value transactions as a way to help in uncovering valuation complications."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will produce 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 experienced in every type of appraisal review, review process and the responsibilities of review appraisers.
Weaver Appraisal Group is aware of what represents a quality appraisal and what the most prevalent inadequacies are, particularly in our home market. Concurrently, we are skilled enough to recognize that our competition in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully assess appraisal reports performed by others. And those others could be studying our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can depend on Weaver Appraisal Group. Contact us regarding our qualifications, expertise and services offered.