WTB Appraisal Svc., LLC Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at WTB Appraisal Svc., LLC, we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call WTB Appraisal Svc., LLC today.
Appraisal reviews "must figure out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment routine reviews with post-funding assessments of appraisal quality for a number of their higher-risk or high-value dealings as a means to assist in identifying valuation problems."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely 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 WTB Appraisal Svc., LLC, we are qualified in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what the most prevalent imperfections are, especially in our home market, as well as what constitutes a quality appraisal. The professionals at WTB Appraisal Svc., LLC are also trained enough to respect 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 count on us to fairly review appraisal reports carried out by others. And those others might be studying our work, too!
Here at WTB Appraisal Svc., LLC, you can rely on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact WTB Appraisal Svc., LLC regarding our qualifications, expertise and service offerings.