Appraisal Reviews with Barnes Appraisal Company
According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews ought to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Barnes Appraisal Company provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact Barnes Appraisal Company today.
According to the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value transactions as a way to aid in detecting valuation complications."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll 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 qualified in every kind of appraisal review, review process and the obligations of review appraisers.
We realize what the most prevalent inadequacies are, specifically in our home market. We also know what makes a quality appraisal. In the same regard, we are trained enough to realize that the competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Barnes Appraisal Company to justly evaluate appraisal reports carried out by others. And those others could be studying our work, too!
You can depend on Barnes Appraisal Company for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Barnes Appraisal Company regarding our qualifications, expertise and services offered.