Expert Appraisal Reviews with Barnes Appraisal Company
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Barnes Appraisal Company, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact Barnes Appraisal Company today.
Appraisal reviews "must figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. Moreover, they "must indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or greater-value contracts as a way to assist in addressing valuation issues."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will prepare 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 are experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.
Barnes Appraisal Company understands what the most common weaknesses are, especially in our home market. We also understand what constitutes a quality appraisal. The professionals at Barnes Appraisal Company are also amply skilled to know that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to lawfully study appraisal reports executed by others. And those others could be evaluating our work, too!
You can trust Barnes Appraisal Company for our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.