Qualified Appraisal Reviews with James Earp Appraisal Service

According to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's regulations, contact James Earp Appraisal Service.

Appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. Moreover, they "should denote whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions add regular reviews with post-funding surveys of appraisal quality for a number of their high-risk or larger-value dealings as a control to assist in detecting valuation dilemmas."

In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll develop 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 James Earp Appraisal Service, we're experienced in every form of appraisal review, review procedure and the requirements of review appraisers.