Appraisal Reviews by Gregory James Company, Inc.
According to an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Gregory James Company, Inc. provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Gregory James Company, Inc. today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. Moreover, they "must show whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some institutions augment routine reviews with post-funding assessments of appraisal quality for a few of their high-liability or high-value transactions as a channel to aid in discovering valuation concerns."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will 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're experienced in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
Gregory James Company, Inc. is aware of what the most frequent deficiencies are, particularly in our housing market. We also understand what constitutes a quality appraisal. We're also adequately trained to admit that the competition in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to objectively valuate appraisal reports done by others. And those others may be examining our work, too!
In short, when you choose Gregory James Company, Inc., you can have confidence in our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.
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