Experienced Appraisal Reviews by Wenzel Appraisal Services, Inc.
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews should "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines, look no further than Wenzel Appraisal Services, Inc..
If you need a real estate appraisal review or have questions regarding an appraisal, contact Wenzel Appraisal Services, Inc. today.
According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality." Moreover, they "should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value contracts as a way to aid in identifying valuation complications."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely 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. Here at Wenzel Appraisal Services, Inc., we're trained in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
We understand what the most frequent defects are, particularly in our real estate market. We also know what amounts to a quality appraisal. At the same time, we're proficient enough to respect that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Wenzel Appraisal Services, Inc. to lawfully review appraisal reports carried out by others. And those others may be studying our work, too!
You can rely on Wenzel Appraisal Services, Inc. for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Wenzel Appraisal Services, Inc. for more information about our qualifications, expertise and services offered.