Qualified Appraisal Reviews with Kathleen Westoby Berengue, CRA
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Kathleen Westoby Berengue provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call Kathleen Westoby Berengue today.
According to the Federal Reserve, appraisal reviews "ought to find 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 attained ensures independence and quality." They "should also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or larger-value contracts as a way to assist in detecting valuation disputes."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually 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. At Kathleen Westoby Berengue, we're skilled in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
Kathleen Westoby Berengue is aware of what the most common weaknesses are, particularly in our real estate market. We also know what makes a quality appraisal. In this regard, we are skilled enough to admit that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully assess appraisal reports done by others. And those others may be evaluating our work, too!
In short, when you choose Kathleen Westoby Berengue, you can have confidence in our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.