Quality Appraisal Reviews with Barnes Appraisal Company
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Barnes Appraisal Company provides appraisal review services that are impartial, expert, professional and compliant 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 Barnes Appraisal Company today.
The Federal Reserve says appraisal reviews "must determine whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement typical reviews with post-funding surveys of appraisal quality for a few of their high-risk or higher-value transactions as a control to aid in addressing valuation disputes."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can prepare 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 Barnes Appraisal Company, we're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
We're aware of what constitutes a quality appraisal and what the most frequent deficiencies are, specifically in our home market. In the same regard, the professionals at Barnes Appraisal Company are amply experienced to know that our competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Barnes Appraisal Company to justly valuate appraisal reports done by others. And those others might be evaluating our work, too!
When you choose Barnes Appraisal Company, you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Barnes Appraisal Company for more information regarding our qualifications, expertise and services offered.