James Earp Appraisal Service Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations, just contact James Earp Appraisal Service.
If you need a real estate appraisal review or have questions regarding an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is attained guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also says that "some banks reinforce periodic reviews with post-funding evaluations of appraisal quality for a few of their high-risk or greater-value affairs as a channel to aid in revealing 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 usually used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At James Earp Appraisal Service, we're skilled in every type of appraisal review, review practice and the requirements of review appraisers.
We realize what the most common weaknesses are, especially in our housing market, as well as what constitutes a quality appraisal. The professionals at James Earp Appraisal Service are also amply trained to respect that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on James Earp Appraisal Service to lawfully evaluate appraisal reports performed by others. And those others could be evaluating our work, too!
At James Earp Appraisal Service, you can be sure of our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact James Earp Appraisal Service for more information regarding our qualifications, expertise and service offerings.