Quality Appraisal Reviews with Graham Appraisal
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Graham Appraisal, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "have to find out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce typical reviews with post-funding assessments of appraisal quality for a number of their higher-risk or higher-value transactions as a channel to aid in uncovering valuation dilemmas."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Graham Appraisal, we are qualified in every form of appraisal review, review practice and the requirements of review appraisers.
We understand what the biggest imperfections are, especially in our housing market. We also understand what constitutes a quality appraisal. At the same time, we're proficient enough to know that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Graham Appraisal to fairly evaluate appraisal reports performed by others. And those others might be examining our work, too!
You can rely on Graham Appraisal for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.