Expert Appraisal Reviews by Nordquist Appraisal LLC
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Nordquist Appraisal LLC provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "should denote whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for any of their high-risk or higher-value dealings as a way to assist in detecting valuation issues."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll produce 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 are trained in all types of appraisal reviews, review processes and the obligations of review appraisers.
We understand what the most frequent inadequacies are, particularly in our real estate market, as well as what constitutes a quality appraisal. We're also amply skilled to know that our 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 justly evaluate appraisal reports executed by others. And those others could be studying our work, too!
In short, here at Nordquist Appraisal LLC, you can trust our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Nordquist Appraisal LLC for more information regarding our qualifications, expertise and services offered.