Appraisal Reviews by Gregory James Company, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Gregory James Company, Inc. provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Gregory James Company, Inc. today.
Appraisal reviews "have to decide whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks add periodic reviews with post-funding evaluations of appraisal quality for some of their higher-liability or greater-value transactions as a means to assist in exposing valuation complications."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will 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 Gregory James Company, Inc., we are qualified in every type of appraisal review, review process and the requirements of review appraisers.
Gregory James Company, Inc. knows what makes a quality appraisal and what the most frequent inadequacies are, especially in our real estate market. In the same regard, we're experienced enough to recognize that the competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically study appraisal reports done by others. And those others may be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on Gregory James Company, Inc.. Contact Gregory James Company, Inc. for more information about our qualifications, expertise and services offered.
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