Wilson & Associates Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Wilson & Associates provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality." They "should also denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value affairs as a means to aid in detecting valuation concerns."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll 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. At Wilson & Associates, we're skilled in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
We're aware of what the most prevalent weaknesses are, particularly in our home market. We also know what makes a quality appraisal. In the same sense, we are professional enough to admit that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Wilson & Associates to objectively examine appraisal reports done by others. And those others might be studying our work, too!
You can rely on Wilson & Associates for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.