Qualified Appraisal Reviews by Gregory James Company, Inc.
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Gregory James Company, Inc., we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Gregory James Company, Inc. today.
Appraisal reviews "must verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks reinforce regular reviews with post-funding surveys of appraisal quality for some of their higher-liability or large-value affairs as a method to assist in uncovering valuation disputes."
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will produce 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 Gregory James Company, Inc., we're skilled in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
We know what the greatest weaknesses are, especially in our home market, as well as what represents a quality appraisal. The professionals at Gregory James Company, Inc. are also trained enough to acknowledge that our competition in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Gregory James Company, Inc. to ethically look over appraisal reports executed by others. And those others may be examining our work, too!
When you choose Gregory James Company, Inc., you can rely on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.
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