James Earp Appraisal Service Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at James Earp Appraisal Service, we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact James Earp Appraisal Service today.
As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality." In addition, they "should show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for any of their higher-liability or high-value contracts as a method to assist in uncovering valuation issues."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can 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 James Earp Appraisal Service, we are skilled in every kind of appraisal review, review practice and the requirements of review appraisers.
James Earp Appraisal Service is aware of what the most prevalent inadequacies are, specifically in our home market. We also understand what makes a quality appraisal. In the same regard, we are amply skilled to recognize that our competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on James Earp Appraisal Service to justly review appraisal reports carried out by others. And those others may be studying our work, too!
In short, here at James Earp Appraisal Service, you can be sure of our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.