Expert Appraisal Reviews with Nordquist Appraisal LLC
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Nordquist Appraisal LLC provides appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact Nordquist Appraisal LLC today.
Appraisal reviews "should conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement routine reviews with post-funding surveys of appraisal quality for a few of their higher-liability or higher-value contracts as a way to aid in revealing valuation complications."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will produce 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 Nordquist Appraisal LLC, we are trained in every type of appraisal review, review procedure and the requirements of review appraisers.
We understand what the most frequent deficiencies are, particularly in our real estate market. We also know what amounts to a quality appraisal. We're also skilled enough to identify that our competitors in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Nordquist Appraisal LLC to fairly look over appraisal reports executed by others. And those others might be studying our work, too!
In short, at Nordquist Appraisal LLC, you can be sure of our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.