Quality Appraisal Reviews by Barnes Appraisal Company
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Barnes Appraisal Company, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding 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 "must verify whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality." Moreover, they "should show whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add routine reviews with post-funding surveys of appraisal quality for some of their higher-risk or high-value affairs as a method to aid in discovering valuation complications."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll produce an appraisal review on any 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 experienced in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We're aware of what the biggest inadequacies are, particularly in our home market, as well as what represents a quality appraisal. We're also experienced enough to recognize that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Barnes Appraisal Company to lawfully examine appraisal reports performed by others. And those others might be studying our work, too!
At Barnes Appraisal Company, you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.