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Appraisal Reviews by Graham Appraisal, Inc.
As said in a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers performing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At Graham Appraisal, Inc., we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the method by which the real estate valuation is acquired ensures independence and quality.
In addition, they must denote whether the appraisal or evaluation report matches the engagement letter, which gives an account of the capacity of the appraisal assignment.
Lastly, the Fed notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
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If you need a real estate appraisal review or have questions regarding an appraisal, contact us today. |
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In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can 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.
At Graham Appraisal, Inc., we're trained in every kind of appraisal review, review procedure and the obligations of review appraisers.
We realize what the most prevalent reporting imperfections are, specifically in our housing market. We also know what makes a quality appraisal.
The professionals at Graham Appraisal, Inc. are also experienced enough to respect that the competition in our market are capable of doing good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Graham Appraisal, Inc. to fairly examine appraisal reports performed by others. And those others might be evaluating our work, too!
Here at Graham Appraisal, Inc., you can trust our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients.
Contact us regarding our qualifications, expertise and service offerings.
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