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Danny Williams Appraisal Service 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 duty of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Danny Williams Appraisal Service, we provide appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is applicable for the transaction, the liability inherit in the transaction, and whether the means by which the collateral valuation is acquired guarantees independence and quality. The review must also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the reach of the appraisal assignment. Lastly, the Federal Reserve also says 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 regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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 Danny Williams Appraisal Service, we're experienced in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
When you choose Danny Williams Appraisal Service, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered. |
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Danny Williams Appraisal Service knows what the most prevalent report imperfections are, especially in our housing market, as well as what makes a quality appraisal.
In the same regard, the professionals at Danny Williams Appraisal Service are sufficiently trained to realize that the competition in our market are qualified to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to lawfully examine appraisal reports performed by others. And those others could be evaluating our work, too!