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Complete Appraisal Reviews by Anderson Appraisals
As stated in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers engaged in reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at Anderson Appraisals, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's guidelines.
A review appraisal has to pursue: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the method by which the real estate valuation is attained ensures independence and quality.
In addition, they must denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment.
Lastly, the Fed goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can 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.
At Anderson Appraisals, we're experienced in every type of appraisal review, review process and the responsibilities of review appraisers.
We are aware of what the most prevalent report defects are, specifically in our home market, as well as what constitutes a quality appraisal.
The professionals at Anderson Appraisals are also sufficiently trained to distinguish that the competitors in our market are able to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically study appraisal reports done by others. And those others might be evaluating our work, too!
When you choose Anderson Appraisals, you can trust our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients.
Contact us for more information regarding our qualifications, expertise and services offered.
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