Appraisal Reviews by James Earp Appraisal Service
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's regulations, 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, contact James Earp Appraisal Service today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce regular reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or larger-value transactions as a way to assist in exposing valuation dilemmas."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 are skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are aware of what represents a quality appraisal and what the greatest defects are, specifically in our real estate market. Concurrently, we are trained enough to acknowledge that the competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically review appraisal reports carried out by others. And those others may be studying our work, too!
You can depend on James Earp Appraisal Service for our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.