Graham Appraisal Appraisal Reviews
As said in an announcement 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 proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Graham Appraisal, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality." They "should also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also states that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for any of their high-liability or large-value affairs as a channel to help in uncovering valuation complications."
In addition to conforming 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'll develop 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're skilled in all forms of appraisal reviews, review processes and the obligations of review appraisers.
We are aware of what the biggest imperfections are, particularly in our housing market, as well as what makes a quality appraisal. In this regard, the professionals at Graham Appraisal are adequately trained to realize that our competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to fairly assess appraisal reports executed by others. And those others might be evaluating our work, too!
You can trust Graham Appraisal for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.