Qualified 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 plan," and that appraisers fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Weaver Appraisal Group, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also says that "some institutions reinforce routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or high-value contracts as a control to aid in identifying valuation disputes."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll 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 trained in all types of appraisal reviews, review practices and the requirements of review appraisers.
We know what constitutes a quality appraisal and what the greatest deficiencies are, particularly in our home market. We're also amply trained to respect that the competition 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 lawfully look over appraisal reports performed by others. And those others could be reviewing our work, too!
You can depend on Weaver Appraisal Group for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Weaver Appraisal Group for more information regarding our qualifications, expertise and service offerings.