Qualified Appraisal Reviews with Nordquist Appraisal LLC
According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews ought to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Nordquist Appraisal LLC provides appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Nordquist Appraisal LLC today.
According to the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is even with the letter of engagement, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement typical reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value contracts as a method to aid in uncovering valuation disputes."
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can prepare 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 experienced in every kind of appraisal review, review process and the responsibilities of review appraisers.
We are aware of what the biggest inadequacies are, particularly in our housing market. We also know what represents a quality appraisal. We're also experienced enough to know that the competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to ethically evaluate appraisal reports done by others. And those others could be reviewing our work, too!
You can count on Nordquist Appraisal LLC for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.