Nordquist Appraisal LLC Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Nordquist Appraisal LLC, we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Nordquist Appraisal LLC today.
Appraisal reviews "ought to decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions augment typical reviews with post-funding surveys of appraisal quality for some of their high-liability or higher-value affairs as a control to help in identifying valuation problems."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will prepare 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 are qualified in every form of appraisal review, review procedure and the responsibilities of review appraisers.
We realize what the most frequent defects are, specifically in our home market, as well as what amounts to a quality appraisal. The professionals at Nordquist Appraisal LLC are also trained enough to identify that the competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Nordquist Appraisal LLC to fairly examine appraisal reports performed by others. And those others might be examining our work, too!
In short, at Nordquist Appraisal LLC, you can have confidence in our neutral 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.