Qualified Appraisal Reviews with Graham Appraisal
As said in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews ought to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Graham Appraisal provides appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact Graham Appraisal today.
According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve notes that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value dealings as a method to aid in detecting valuation dilemmas."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Graham Appraisal, we are experienced in all forms of appraisal reviews, review practices and the obligations of review appraisers.
We are familiar with what represents a quality appraisal and what the most common weaknesses are, particularly in our housing market. In the same regard, we're adequately skilled to acknowledge that our competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to fairly evaluate appraisal reports done by others. And those others could be studying our work, too!
At Graham Appraisal, you can be sure of our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.