Appraisal Reviews by Graham Appraisal
According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews ought to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Graham Appraisal, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for a few of their high-liability or larger-value transactions as a way to aid in uncovering valuation disputes."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Graham Appraisal, we're trained in every type of appraisal review, review process and the responsibilities of review appraisers.
We know what the most common weaknesses are, especially in our housing market. We also understand what represents a quality appraisal. The professionals at Graham Appraisal are also adequately trained to recognize that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to ethically valuate appraisal reports executed by others. And those others might be reviewing our work, too!
You can trust Graham Appraisal for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Graham Appraisal to learn more about our qualifications, expertise and services offered.