Quality Appraisal Reviews by Gregory James Company, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Gregory James Company, Inc. provides appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is collected ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the range of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value dealings as a method to aid in exposing valuation issues."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will produce an appraisal review on any one 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 skilled in every type of appraisal review, review procedure and the responsibilities of review appraisers.
Gregory James Company, Inc. is aware of what the biggest inadequacies are, specifically in our housing market. We also know what makes a quality appraisal. In this regard, we're professional enough to realize that the competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically examine appraisal reports carried out by others. And those others may be examining our work, too!
For professional, unbiased, ethical appraisal review services and truthful judgments, you can count on Gregory James Company, Inc.. Contact us to learn more about our qualifications, expertise and service offerings.
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