Qualified Appraisal Reviews with James Earp Appraisal Service
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines, look no further than James Earp Appraisal Service.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call James Earp Appraisal Service today.
Appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "must also signify whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some banks augment routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value transactions as a way to help in revealing valuation issues."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will formulate 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 James Earp Appraisal Service, we're trained in every form of appraisal review, review process and the responsibilities of review appraisers.
James Earp Appraisal Service knows what the greatest imperfections are, especially in our housing market, as well as what makes a quality appraisal. We're also skilled enough to recognize that the competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to objectively assess appraisal reports done by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can count on James Earp Appraisal Service. Contact us for more information regarding our qualifications, expertise and services offered.