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Appraisal Reviews by Williams Appraisal ServiceAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the obligation of appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Williams Appraisal Service provides appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality. They must also indicate whether the appraisal or evaluation report is in line with the engagement letter, which describes the scope of the appraisal assignment. The Federal Reserve 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 regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Williams Appraisal Service, we're experienced in every type of appraisal review, review procedure and the requirements of review appraisers.
You can count on Williams Appraisal Service for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Williams Appraisal Service to learn more about our qualifications, expertise and service offerings. |
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Williams Appraisal Service understands what makes a quality appraisal and what the biggest defects are, specifically when it comes to our home market.
We're also skilled enough to admit that the competition in our market are capable of a fine job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Williams Appraisal Service to lawfully study appraisal reports carried out by others. And those others might be reviewing our work, too!