Expert Appraisal Reviews by James Earp Appraisal Service
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." James Earp Appraisal Service provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call James Earp Appraisal Service today.
As stated by the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." They "must also signify whether the appraisal or evaluation report matches the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce typical reviews with post-funding evaluations of appraisal quality for a few of their high-risk or large-value affairs as a way to assist in identifying valuation concerns."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll prepare 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 all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
James Earp Appraisal Service is aware of what makes a quality appraisal and what the most common defects are, specifically in our real estate market. In the same regard, we are proficient enough to realize that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust James Earp Appraisal Service to fairly assess appraisal reports executed by others. And those others could be reviewing our work, too!
You can rely on James Earp Appraisal Service for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact James Earp Appraisal Service for more information about our qualifications, expertise and service offerings.