Expert Appraisal Reviews by Webb Appraisers, LLC
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's guidelines, look no further than Webb Appraisers, LLC.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality." They "should also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also states that "some banks add routine reviews with post-funding assessments of appraisal quality for any of their high-liability or larger-value contracts as a method to help in addressing valuation complications."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally 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 Webb Appraisers, LLC, we are trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.
We are aware of what the most common deficiencies are, specifically in our home market, as well as what represents a quality appraisal. In the same sense, we're proficient enough to identify that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Webb Appraisers, LLC to fairly review appraisal reports carried out by others. And those others could be studying our work, too!
Here at Webb Appraisers, LLC, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Webb Appraisers, LLC for more information about our qualifications, expertise and service offerings.