Qualified Appraisal Reviews by B & J APPRAISALS, INC.
According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews must "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at B & J APPRAISALS, INC., we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "should conclude whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "must signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or greater-value dealings as a control to assist in addressing valuation issues."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 skilled in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We know what makes a quality appraisal and what the biggest defects are, particularly in our housing market. We're also amply trained to realize that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on B & J APPRAISALS, INC. to lawfully examine appraisal reports executed by others. And those others may be studying our work, too!
You can count on B & J APPRAISALS, INC. for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact B & J APPRAISALS, INC. regarding our qualifications, expertise and services offered.