Experienced Appraisal Reviews by Nordquist Appraisal LLC
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews ought to "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, contact Nordquist Appraisal LLC.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Nordquist Appraisal LLC today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or larger-value dealings as a control to assist in detecting valuation problems."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will formulate an appraisal review on any one 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 every kind of appraisal review, review process and the obligations of review appraisers.
We understand what the most frequent inadequacies are, particularly in our home market, as well as what amounts to a quality appraisal. The professionals at Nordquist Appraisal LLC are also trained enough to respect that our competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically review appraisal reports completed by others. And those others might be studying our work, too!
You can count on Nordquist Appraisal LLC for our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Nordquist Appraisal LLC to learn more about our qualifications, expertise and services offered.