Appraisal Reviews with Barnes Appraisal Company
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Barnes Appraisal Company provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Barnes Appraisal Company today.
According to the Federal Reserve, appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is attained ensures independence and quality." They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or large-value transactions as a way to assist in discovering valuation issues."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually 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're skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.
Barnes Appraisal Company realizes what the most prevalent inadequacies are, particularly in our home market, as well as what constitutes a quality appraisal. In this regard, the professionals at Barnes Appraisal Company are amply skilled to admit that the competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to ethically study appraisal reports done by others. And those others may be examining our work, too!
When you choose Barnes Appraisal Company, you can count on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.