Appraisal Reviews with Gregory James Company, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Gregory James Company, Inc. provides appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call Gregory James Company, Inc. today.
As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "should show whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or greater-value transactions as a means to assist in uncovering valuation problems."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can develop 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 Gregory James Company, Inc., we are trained in every form of appraisal review, review process and the responsibilities of review appraisers.
We understand what the most prevalent defects are, especially in our home market, as well as what amounts to a quality appraisal. Concurrently, we are professional enough to identify that our competitors in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically valuate appraisal reports completed by others. And those others may be evaluating our work, too!
In short, when you choose Gregory James Company, Inc., you can have confidence in our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.
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