Quality Appraisal Reviews with Graham Appraisal
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews ought to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Graham Appraisal, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Graham Appraisal today.
Appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is even with the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for some of their higher-risk or greater-value transactions as a control to help in addressing valuation complications."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll 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 Graham Appraisal, we're qualified in all types of appraisal reviews, review processes and the obligations of review appraisers.
We are aware of what makes a quality appraisal and what the most frequent inadequacies are, especially in our real estate market. We're also experienced enough to recognize that our competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to ethically valuate appraisal reports completed by others. And those others might be examining our work, too!
In short, here at Graham Appraisal, you can trust our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Graham Appraisal to learn more about our qualifications, expertise and service offerings.