Quality Appraisal Reviews by Barnes Appraisal Company
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Barnes Appraisal Company, we provide appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Barnes Appraisal Company today.
Appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement regular reviews with post-funding evaluations of appraisal quality for some of their high-risk or large-value dealings as a means to assist in addressing valuation dilemmas."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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 all kinds of appraisal reviews, review practices and the obligations of review appraisers.
We know what the biggest inadequacies are, especially in our home market, as well as what makes a quality appraisal. We're also sufficiently trained to identify that the competition in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Barnes Appraisal Company to lawfully look over appraisal reports executed by others. And those others may be reviewing our work, too!
In short, here at Barnes Appraisal Company, you can trust our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Barnes Appraisal Company regarding our qualifications, expertise and service offerings.