Expert Appraisal Reviews by Barnes Appraisal Company
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Barnes Appraisal Company provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Barnes Appraisal Company today.
According to the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is collected ensures independence and quality." Moreover, they "should signify whether the appraisal or evaluation report is true to the letter of engagement, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or larger-value contracts as a means to assist in uncovering valuation disputes."
In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely 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 are experienced in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We know what represents a quality appraisal and what the biggest deficiencies are, specifically in our home market. We're also amply trained to distinguish that the competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully assess appraisal reports carried out by others. And those others may be examining our work, too!
You can depend on Barnes Appraisal Company for our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.