Appraisal Reviews with Gregory James Company, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the proficiency and skillfulness 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 line with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Gregory James Company, Inc. today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or higher-value dealings as a method to help in identifying valuation dilemmas."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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 trained in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
Gregory James Company, Inc. understands what the greatest defects are, especially in our real estate market, as well as what makes a quality appraisal. In this regard, we are amply experienced to identify that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Gregory James Company, Inc. to objectively examine appraisal reports done by others. And those others could be examining our work, too!
In short, at Gregory James Company, Inc., you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Gregory James Company, Inc. for more information about our qualifications, expertise and services offered.
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