Appraisal Reviews by Gregory James Company, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, expert, professional and in line with the Federal Reserve's guidelines, contact Gregory James Company, Inc..
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is acquired guarantees independence and quality." In addition, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their high-liability or large-value contracts as a means to help in uncovering valuation disputes."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 skilled in every kind of appraisal review, review practice and the requirements of review appraisers.
We are aware of what the most common imperfections are, particularly in our home market, as well as what makes a quality appraisal. The professionals at Gregory James Company, Inc. are also experienced enough to realize that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully review appraisal reports executed by others. And those others may be studying our work, too!
At Gregory James Company, Inc., you can be sure of our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.
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