Appraisal Reviews by Gregory James Company, Inc.
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Gregory James Company, Inc., we provide appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Gregory James Company, Inc. today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. Moreover, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value transactions as a means to aid in exposing valuation issues."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Gregory James Company, Inc., we are trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
Gregory James Company, Inc. is aware of what the most common defects are, especially in our real estate market. We also understand what makes a quality appraisal. The professionals at Gregory James Company, Inc. are also sufficiently skilled to admit that our competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Gregory James Company, Inc. to lawfully evaluate appraisal reports completed by others. And those others might be examining our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can count on Gregory James Company, Inc.. Contact Gregory James Company, Inc. for more information about our qualifications, expertise and services offered.
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