According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations, just contact Graham Appraisal.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Graham Appraisal today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report is true to the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for any of their high-liability or large-value transactions as a means to help in detecting valuation dilemmas."
In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can formulate 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 Graham Appraisal, we are qualified in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
We are familiar with what constitutes a quality appraisal and what the greatest defects are, especially in our real estate market. The professionals at Graham Appraisal are also experienced enough to realize that the competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to objectively evaluate appraisal reports performed by others. And those others may be evaluating our work, too!
When you choose Graham Appraisal, you can trust our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Graham Appraisal for more information regarding our qualifications, expertise and services offered.