Nordquist Appraisal LLC Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations, just contact Nordquist Appraisal LLC.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Nordquist Appraisal LLC today.
The Federal Reserve says appraisal reviews "have to 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 collected guarantees independence and quality." Moreover, they "should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for any of their higher-risk or higher-value affairs as a way to aid in addressing valuation problems."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can formulate 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 Nordquist Appraisal LLC, we're skilled in every form of appraisal review, review process and the responsibilities of review appraisers.
We're aware of what represents a quality appraisal and what the most common defects are, particularly in our housing market. At the same time, we're sufficiently skilled to admit that the competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly evaluate appraisal reports carried out by others. And those others might be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and honest judgments, you can count on Nordquist Appraisal LLC. Contact us for more information regarding our qualifications, expertise and services offered.