Appraisal Reviews with James Earp Appraisal Service
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at James Earp Appraisal Service, we provide appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's rules.
If you have questions in reference to 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 find out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. In addition, they "should denote whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value transactions as a way to aid in uncovering valuation problems."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally 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. At James Earp Appraisal Service, we are experienced in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what the most prevalent defects are, particularly in our home market. We also know what makes a quality appraisal. Concurrently, the professionals at James Earp Appraisal Service are adequately experienced to acknowledge that our competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on James Earp Appraisal Service to fairly study appraisal reports done by others. And those others could be reviewing our work, too!
In short, here at James Earp Appraisal Service, you can have confidence in our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.