Appraisal Reviews with Gregory James Company, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews should "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's rules, just contact Gregory James Company, Inc..
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions add regular reviews with post-funding assessments of appraisal quality for some of their high-liability or larger-value affairs as a way to aid in identifying valuation disputes."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Gregory James Company, Inc., we are experienced in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
Gregory James Company, Inc. is aware of what the most prevalent inadequacies are, particularly in our real estate market. We also understand what constitutes a quality appraisal. We're also amply skilled to know that our competitors in our market are capable of a fine job. 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 carried out by others. And those others could be studying our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can rely on Gregory James Company, Inc.. Contact Gregory James Company, Inc. for more information regarding our qualifications, expertise and service offerings.
Questions or Comments?
Please drop us a note with a question or comment. We will respond promptly, If you do so we will answer the question to the best of our ability. If we do not know the answer, we will point you in the right direction. We will promise you we will not email you death with advertising or any other types of emails except for a few holiday emails we send each year