Nordquist Appraisal LLC Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's rules, just contact Nordquist Appraisal LLC.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve notes that "some banks add routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or higher-value affairs as a means to aid in identifying valuation dilemmas."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Nordquist Appraisal LLC, we're qualified in every type of appraisal review, review process and the requirements of review appraisers.
We realize what the most prevalent imperfections are, specifically in our housing market, as well as what represents a quality appraisal. The professionals at Nordquist Appraisal LLC are also adequately skilled to realize that the competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to justly study appraisal reports carried out by others. And those others may be reviewing our work, too!
You can depend on Nordquist Appraisal LLC for our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Nordquist Appraisal LLC for more information regarding our qualifications, expertise and service offerings.