Qualified Appraisal Reviews by Gregory James Company, Inc.
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules, contact Gregory James Company, Inc..
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks augment periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or larger-value dealings as a method to help in revealing valuation concerns."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will formulate 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 are skilled in every type of appraisal review, review procedure and the responsibilities of review appraisers.
Gregory James Company, Inc. understands what amounts to a quality appraisal and what the most common imperfections are, especially in our real estate market. We're also skilled enough to realize that the competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Gregory James Company, Inc. to fairly assess appraisal reports done by others. And those others may be studying our work, too!
When you choose Gregory James Company, Inc., you can count on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Gregory James Company, Inc. for more information regarding our qualifications, expertise and service offerings.
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