Qualified Appraisal Reviews by Wolff AppraisalsAccording to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines, just contact Wolff Appraisals. ![]() If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Wolff Appraisals today. Appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. Moreover, they "should demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or higher-value transactions as a channel to aid in detecting valuation concerns." In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Wolff Appraisals, we are trained in all types of appraisal reviews, review procedures and the responsibilities of review appraisers. We know what the most frequent deficiencies are, especially in our housing market, as well as what represents a quality appraisal. In the same sense, we're adequately skilled to realize that the competitors in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to justly assess appraisal reports performed by others. And those others could be examining our work, too! At Wolff Appraisals, you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered. |