Gregory James Company, Inc. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations, just contact Gregory James Company, Inc..
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Gregory James Company, Inc. today.
The Federal Reserve says appraisal reviews "have to determine whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for some of their higher-liability or higher-value dealings as a channel to assist in revealing valuation complications."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll 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're qualified in every form of appraisal review, review process and the obligations of review appraisers.
We are familiar with what the most common weaknesses are, specifically in our real estate market, as well as what makes a quality appraisal. In this regard, we're skilled enough to admit that our competition 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 ethically study appraisal reports performed by others. And those others may be studying our work, too!
You can rely on Gregory James Company, Inc. for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Gregory James Company, Inc. for more information regarding our qualifications, expertise and service offerings.
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