|
Waterstone Valuation Group Appraisal ReviewsAs stated in 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 preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Waterstone Valuation Group provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.A review appraisal should ascertain: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the procedure by which the collateral valuation is rendered ensures independence and quality. In addition, they must demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment. The Fed 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 adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will prepare 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 Waterstone Valuation Group, we're qualified in every type of appraisal review, review procedure and the obligations of review appraisers.
In short, at Waterstone Valuation Group, you can be sure of our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings. |
|||||||||
We are aware of what the most frequent reporting inadequacies are, particularly in our housing market. We also understand what represents a quality appraisal.
In the same regard, we are experienced enough to know that the competitors in our market are qualified to do good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly look over appraisal reports completed by others. And those others could be examining our work, too!