Expert Appraisal Reviews by Nordquist Appraisal LLC
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews are obligated to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Nordquist Appraisal LLC, we provide appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact Nordquist Appraisal LLC today.
Appraisal reviews "should find out whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a few of their higher-liability or large-value affairs as a means to aid in addressing valuation complications."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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. At Nordquist Appraisal LLC, we are trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
Nordquist Appraisal LLC knows what the most common defects are, specifically in our housing market. We also know what constitutes a quality appraisal. At the same time, we are skilled enough to recognize that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to ethically assess appraisal reports performed by others. And those others might be examining our work, too!
Here at Nordquist Appraisal LLC, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Nordquist Appraisal LLC regarding our qualifications, expertise and services offered.