Quality Appraisal Reviews with Graham Appraisal
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews ought to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's rules, contact Graham Appraisal.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. Moreover, they "must show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also says that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for any of their high-risk or high-value dealings as a control to help in discovering valuation issues."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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 are experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
Graham Appraisal knows what the most common imperfections are, especially in our home market, as well as what represents a quality appraisal. We're also trained enough to realize that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly valuate appraisal reports performed by others. And those others could be examining our work, too!
At Graham Appraisal, you can trust our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.