Experienced Appraisal Reviews with Nordquist Appraisal LLC
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews should "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules, just contact Nordquist Appraisal LLC.
If you need a real estate appraisal review or have questions regarding an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality." They "should also show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some banks add routine reviews with post-funding surveys of appraisal quality for a number of their higher-risk or high-value contracts as a channel to aid in exposing valuation concerns."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. Here at Nordquist Appraisal LLC, we're qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
We are familiar with what represents a quality appraisal and what the most common imperfections are, especially in our real estate market. The professionals at Nordquist Appraisal LLC are also sufficiently trained to respect that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Nordquist Appraisal LLC to ethically study appraisal reports carried out by others. And those others may be evaluating our work, too!
When you choose Nordquist Appraisal LLC, you can count on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.