Qualified 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 doing reviews should "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At Graham Appraisal, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
The Federal Reserve says appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also states that "some banks supplement regular reviews with post-funding surveys of appraisal quality for a few of their higher-risk or larger-value contracts as a control to help in addressing valuation issues."
In addition to adjusting 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 can formulate 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 experienced in every kind of appraisal review, review process and the obligations of review appraisers.
We are familiar with what the biggest defects are, especially in our housing market, as well as what represents a quality appraisal. The professionals at Graham Appraisal are also adequately skilled to realize that the competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully study appraisal reports carried out by others. And those others might be reviewing our work, too!
At Graham Appraisal, you can trust our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.