Qualified Appraisal Reviews by Weaver Appraisal Group
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules, contact Weaver Appraisal Group.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
Appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also announce whether the appraisal or evaluation report is true to the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce typical reviews with post-funding assessments of appraisal quality for a number of their high-liability or higher-value contracts as a channel to help in discovering valuation problems."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Weaver Appraisal Group, we are qualified in every form of appraisal review, review procedure and the obligations of review appraisers.
Weaver Appraisal Group is aware of what makes a quality appraisal and what the most common inadequacies are, specifically in our housing market. In the same regard, we're professional enough to distinguish that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Weaver Appraisal Group to fairly examine appraisal reports done by others. And those others could be examining our work, too!
You can depend on Weaver Appraisal Group for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.