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Savvy Appraisal Reviews with Willamette Valley Appraisal ProfessionalsAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the prudent for appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Willamette Valley Appraisal Professionals provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the means by which the collateral valuation is rendered ensures independence and quality. In addition, they must show whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment. Lastly, the Federal Reserve also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 Willamette Valley Appraisal Professionals, we're skilled in every form of appraisal review, review procedure and the responsibilities of review appraisers.
For professional, fair, ethical appraisal review services and neutral judgments, you can depend on Willamette Valley Appraisal Professionals. Contact us regarding our qualifications, expertise and service offerings. |
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Willamette Valley Appraisal Professionals understands what amounts to a quality appraisal and what the greatest errors are, particularly in our local housing market. The professionals at Willamette Valley Appraisal Professionals are also amply experienced to respect that the competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Willamette Valley Appraisal Professionals to justly examine appraisal reports performed by others. And those others may be studying our work, too!