Experienced Appraisal Reviews by G and R Appraisal Service
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." G and R Appraisal Service provides appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is attained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions add typical reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value transactions as a method to help in detecting valuation issues."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At G and R Appraisal Service, we are qualified in all types of appraisal reviews, review procedures and the obligations of review appraisers.
G and R Appraisal Service is aware of what makes a quality appraisal and what the greatest inadequacies are, specifically in our home market. We're also experienced enough to know that our competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to justly evaluate appraisal reports carried out by others. And those others may be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on G and R Appraisal Service. Contact G and R Appraisal Service for more information about our qualifications, expertise and service offerings.