Quality Appraisal Reviews by Quern AppraisalsAccording to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Quern Appraisals, we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's regulations. 
If you have questions about an appraisal, or if you need a real estate appraisal review, contact Quern Appraisals today. Appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. In addition, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions supplement typical reviews with post-funding surveys of appraisal quality for a number of their higher-risk or greater-value affairs as a channel to assist in revealing valuation disputes." In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Quern Appraisals, we're skilled in all types of appraisal reviews, review procedures and the requirements of review appraisers. We are familiar with what the most prevalent deficiencies are, especially in our home market, as well as what amounts to a quality appraisal. We're also sufficiently experienced to identify that the competition 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 objectively evaluate appraisal reports carried out by others. And those others may be reviewing our work, too! You can rely on Quern Appraisals for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Quern Appraisals for more information regarding our qualifications, expertise and service offerings. |