Barnes Appraisal Company Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Barnes Appraisal Company provides appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Barnes Appraisal Company today.
Appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce regular reviews with post-funding assessments of appraisal quality for any of their high-liability or larger-value transactions as a way to assist in identifying valuation dilemmas."
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically 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. Here at Barnes Appraisal Company, we're skilled in every form of appraisal review, review practice and the responsibilities of review appraisers.
We realize what the biggest imperfections are, particularly in our home market. We also know what amounts to a quality appraisal. In the same sense, the professionals at Barnes Appraisal Company are adequately experienced to recognize that the competition in our market are skillful in 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 us to ethically look over appraisal reports executed by others. And those others may be evaluating our work, too!
For professional, objective, ethical appraisal review services and independent judgments, you can rely on Barnes Appraisal Company. Contact us to learn more about our qualifications, expertise and services offered.