Expert Appraisal Reviews with James Earp Appraisal Service
According to a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." James Earp Appraisal Service provides appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call James Earp Appraisal Service today.
Appraisal reviews "have to verify whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement typical reviews with post-funding surveys of appraisal quality for some of their higher-liability or high-value affairs as a control to aid in addressing valuation complications."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will 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. At James Earp Appraisal Service, we're trained in all types of appraisal reviews, review processes and the requirements of review appraisers.
We are aware of what the most frequent weaknesses are, especially in our real estate market. We also understand what constitutes a quality appraisal. Concurrently, we're professional enough to admit that the competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly review appraisal reports done by others. And those others may be studying our work, too!
Here at James Earp Appraisal Service, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.