Appraisal Reviews by Nordquist Appraisal LLC
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Nordquist Appraisal LLC provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or high-value contracts as a means to assist in uncovering valuation problems."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can develop 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're qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
We know what the greatest weaknesses are, particularly in our home market. We also understand what makes a quality appraisal. In this regard, we're proficient enough to know that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Nordquist Appraisal LLC to objectively evaluate appraisal reports performed by others. And those others might be studying our work, too!
You can rely on Nordquist Appraisal LLC for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.