Appraisal Reviews with Gregory James Company, Inc.
As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Gregory James Company, Inc. provides appraisal review services that are impartial, efficient, 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 regarding an appraisal, call Gregory James Company, Inc. today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for some of their higher-risk or greater-value affairs as a way to assist in detecting valuation concerns."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll 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're skilled in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what the greatest deficiencies are, particularly in our housing market, as well as what constitutes a quality appraisal. We're also amply trained to know that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively review appraisal reports completed by others. And those others might be studying our work, too!
When you choose Gregory James Company, Inc., you can rely on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Gregory James Company, Inc. regarding our qualifications, expertise and service offerings.
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