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Competent Appraisal Reviews with Walker & Associates
According 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 expectation of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At Walker & Associates, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.
A review appraisal should verify: whether the original appraisal or evaluation is appropriate for the transaction, the exposure inherit in the transaction, and whether the means by which the property valuation is attained ensures independence and quality.
They must also denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the depth of the appraisal assignment.
Lastly, the Fed also notes 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 conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At Walker & Associates, we are experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We are familiar with what the greatest reporting defects are, specifically in our housing market. We also understand what represents a quality appraisal.
The professionals at Walker & Associates are also experienced enough to realize that our competitors in our market are skillful in doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Walker & Associates to ethically examine appraisal reports completed by others. And those others might be studying our work, too!
In short, at Walker & Associates, you can trust our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers.
Contact Walker & Associates for more information regarding our qualifications, expertise and service offerings.
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