B & J APPRAISALS, INC. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews must "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." B & J APPRAISALS, INC. provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality." They "must also show whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or high-value contracts as a method to assist in identifying valuation problems."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will produce 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 B & J APPRAISALS, INC., we're trained in every form of appraisal review, review procedure and the requirements of review appraisers.
B & J APPRAISALS, INC. knows what makes a quality appraisal and what the most common deficiencies are, specifically in our home market. In this regard, we're experienced enough to realize that the competitors in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to ethically assess appraisal reports executed by others. And those others may be reviewing our work, too!
In short, when you choose B & J APPRAISALS, INC., you can count on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact B & J APPRAISALS, INC. to learn more about our qualifications, expertise and service offerings.