Quality Appraisal Reviews with James Earp Appraisal Service
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." James Earp Appraisal Service provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact James Earp Appraisal Service today.
The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." In addition, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or greater-value dealings as a means to assist in detecting valuation issues."
In addition to tailoring our work to the regulations and guidelines of our review clients, 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. Here at James Earp Appraisal Service, we are qualified in every form of appraisal review, review procedure and the obligations of review appraisers.
We're aware of what the most frequent defects are, particularly in our real estate market. We also understand what amounts to a quality appraisal. In the same sense, the professionals at James Earp Appraisal Service are amply trained to know that the competition in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on James Earp Appraisal Service to justly assess appraisal reports performed by others. And those others might be examining our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can count on James Earp Appraisal Service. Contact James Earp Appraisal Service to learn more about our qualifications, expertise and services offered.