VanderWaal Appraisal Group Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." VanderWaal Appraisal Group provides appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "should also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for any of their higher-liability or high-value dealings as a way to aid in addressing valuation dilemmas."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will 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 VanderWaal Appraisal Group, we are trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
We understand what constitutes a quality appraisal and what the most common defects are, specifically in our housing market. In the same sense, the professionals at VanderWaal Appraisal Group are sufficiently trained to admit that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly valuate appraisal reports performed by others. And those others might be reviewing our work, too!
You can rely on VanderWaal Appraisal Group for our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.