Quality Appraisal Reviews with Waldron Appraisal LLC
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Waldron Appraisal LLC, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "must verify whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for a few of their high-risk or higher-value contracts as a way to aid in detecting valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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. Here at Waldron Appraisal LLC, we're qualified in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We understand what the biggest imperfections are, specifically in our real estate market, as well as what represents a quality appraisal. We're also adequately trained to distinguish that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Waldron Appraisal LLC to fairly valuate appraisal reports done by others. And those others could be studying our work, too!
For professional, objective, ethical appraisal review services and truthful judgments, you can depend on Waldron Appraisal LLC. Contact us to learn more about our qualifications, expertise and services offered.