Gregory James Company, Inc. Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Gregory James Company, Inc., we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality." They "must also indicate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add typical reviews with post-funding surveys of appraisal quality for any of their higher-liability or large-value affairs as a control to assist in addressing valuation disputes."
In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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 every form of appraisal review, review practice and the requirements of review appraisers.
We realize what amounts to a quality appraisal and what the biggest defects are, particularly in our housing market. We're also skilled enough to distinguish that the competition in our market are qualified 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 count on Gregory James Company, Inc. to lawfully look over appraisal reports executed by others. And those others may be evaluating our work, too!
At Gregory James Company, Inc., you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Gregory James Company, Inc. to learn more about our qualifications, expertise and service offerings.
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