Qualified Appraisal Reviews by Barnes Appraisal Company
As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Barnes Appraisal Company, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must denote whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add regular reviews with post-funding surveys of appraisal quality for a number of their high-risk or higher-value contracts as a method to help in discovering valuation disputes."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can formulate 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 trained in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what the greatest inadequacies are, especially in our housing market. We also know what represents a quality appraisal. In this regard, we're trained enough to admit that our competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically review appraisal reports completed by others. And those others may be evaluating our work, too!
You can depend on Barnes Appraisal Company for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.