Appraisal Reviews by James Earp Appraisal Service
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." James Earp Appraisal Service provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call James Earp Appraisal Service today.
As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality." They "should also signify whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment typical reviews with post-funding assessments of appraisal quality for a number of their higher-liability or higher-value transactions as a means to help in detecting valuation disputes."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can develop 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 qualified in all forms of appraisal reviews, review practices and the requirements of review appraisers.
James Earp Appraisal Service realizes what the biggest inadequacies are, especially in our real estate market. We also understand what amounts to a quality appraisal. Concurrently, we are experienced enough to recognize that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to ethically review appraisal reports done by others. And those others might be examining our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can depend on James Earp Appraisal Service. Contact James Earp Appraisal Service for more information regarding our qualifications, expertise and services offered.