Quality Appraisal Reviews by RWA Appraisals
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At RWA Appraisals, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
The Federal Reserve says appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality." They "should also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value transactions as a channel to aid in revealing valuation concerns."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at RWA Appraisals, we are qualified in every form of appraisal review, review practice and the obligations of review appraisers.
RWA Appraisals realizes what represents a quality appraisal and what the biggest imperfections are, specifically in our housing market. We're also experienced enough to identify that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to objectively assess appraisal reports carried out by others. And those others may be reviewing our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on RWA Appraisals. Contact RWA Appraisals for more information about our qualifications, expertise and service offerings.