Qualified Appraisal Reviews by Barnes Appraisal Company
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews must "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's guidelines, just contact Barnes Appraisal Company.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call Barnes Appraisal Company today.
The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is obtained ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for a number of their higher-risk or greater-value contracts as a method to help in discovering valuation complications."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Barnes Appraisal Company, we're experienced in every form of appraisal review, review practice and the requirements of review appraisers.
Barnes Appraisal Company understands what amounts to a quality appraisal and what the most common deficiencies are, particularly in our real estate market. In the same regard, we are trained enough to respect that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Barnes Appraisal Company to objectively examine appraisal reports performed by others. And those others could be reviewing our work, too!
In short, here at Barnes Appraisal Company, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Barnes Appraisal Company regarding our qualifications, expertise and services offered.