Quality Appraisal Reviews with WTB Appraisal Svc., LLC

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews ought to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." WTB Appraisal Svc., LLC provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is attained guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions add periodic reviews with post-funding assessments of appraisal quality for some of their higher-risk or large-value dealings as a way to aid in exposing valuation disputes."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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. At WTB Appraisal Svc., LLC, we are trained in every kind of appraisal review, review practice and the responsibilities of review appraisers.