Quality Appraisal Reviews with Wise Appraisal

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Wise Appraisal, we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's rules.

If you need a real estate appraisal review or have questions regarding an appraisal, call Wise Appraisal today.

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement routine reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value affairs as a way to aid in uncovering valuation concerns."

In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally 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 Wise Appraisal, we're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.

Wise Appraisal realizes what makes a quality appraisal and what the most frequent imperfections are, particularly in our housing market. Concurrently, we are amply experienced to realize that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Wise Appraisal to objectively examine appraisal reports carried out by others. And those others could be examining our work, too!

In short, at Wise Appraisal, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Wise Appraisal for more information about our qualifications, expertise and service offerings.