Quality Appraisal Reviews by Barnes Appraisal Company
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines, contact Barnes Appraisal Company.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality." They "should also signify whether the appraisal or evaluation report is true to the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for any of their high-liability or larger-value contracts as a way to aid in discovering valuation problems."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Barnes Appraisal Company, we're qualified in every type of appraisal review, review procedure and the requirements of review appraisers.
Barnes Appraisal Company knows what makes a quality appraisal and what the greatest inadequacies are, specifically in our home market. We're also experienced enough to recognize that our competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to ethically study appraisal reports performed by others. And those others may be examining our work, too!
At Barnes Appraisal Company, you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Barnes Appraisal Company for more information about our qualifications, expertise and service offerings.