Qualified Appraisal Reviews by Barnes Appraisal Company
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines, just contact Barnes Appraisal Company.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
Appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also announce whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add routine reviews with post-funding surveys of appraisal quality for any of their higher-risk or higher-value transactions as a method to help in exposing valuation issues."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll formulate 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 Barnes Appraisal Company, we're experienced in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
We realize what the most common weaknesses are, specifically in our housing market, as well as what makes a quality appraisal. We're also experienced enough to recognize that our competition in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Barnes Appraisal Company to lawfully look over appraisal reports performed by others. And those others might be examining our work, too!
In short, here at Barnes Appraisal Company, you can trust our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Barnes Appraisal Company for more information regarding our qualifications, expertise and services offered.