Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." James Earp Appraisal Service provides appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules.

If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.

Appraisal reviews "should decide 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 collected guarantees independence and quality," according to the Federal Reserve. Moreover, they "should denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value transactions as a method to assist in discovering valuation issues."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At James Earp Appraisal Service, we're trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.

We understand what the biggest inadequacies are, especially in our housing market, as well as what constitutes a quality appraisal. The professionals at James Earp Appraisal Service are also skilled enough to admit that the competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on James Earp Appraisal Service to justly look over appraisal reports executed by others. And those others could be examining our work, too!

In short, at James Earp Appraisal Service, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.