Qualified Appraisal Reviews with Graham Appraisal
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Graham Appraisal provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Graham Appraisal today.
As stated by the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality." In addition, they "should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also states that "some banks reinforce regular reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value dealings as a means to help in detecting valuation disputes."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can produce 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 trained in every form of appraisal review, review procedure and the obligations of review appraisers.
Graham Appraisal understands what the most frequent inadequacies are, especially in our real estate market. We also understand what makes a quality appraisal. We're also adequately experienced to recognize that the competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly study appraisal reports done by others. And those others might be studying our work, too!
You can rely on Graham Appraisal for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.