Appraisal Reviews with Graham Appraisal
According to an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Graham Appraisal, we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
The Federal Reserve says appraisal reviews "ought to conclude whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for a number of their high-liability or high-value contracts as a control to help in addressing valuation issues."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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're qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
Graham Appraisal realizes what the most prevalent inadequacies are, especially in our real estate market, as well as what represents a quality appraisal. In the same sense, the professionals at Graham Appraisal are amply skilled to know that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Graham Appraisal to fairly valuate appraisal reports executed by others. And those others could be studying our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can depend on Graham Appraisal. Contact us for more information about our qualifications, expertise and service offerings.