As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews must "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations, look no further than Binder and Associates (360) 573-8114.
If you need a real estate appraisal review or have questions about an appraisal, call Binder and Associates (360) 573-8114 today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement regular reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value contracts as a way to assist in identifying valuation concerns."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Binder and Associates (360) 573-8114, we're trained in every kind of appraisal review, review process and the requirements of review appraisers.
We understand what amounts to a quality appraisal and what the biggest weaknesses are, specifically in our real estate market. Concurrently, we're adequately skilled to distinguish that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to lawfully assess appraisal reports carried out by others. And those others may be examining our work, too!
You can trust Binder and Associates (360) 573-8114 for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Binder and Associates (360) 573-8114 for more information regarding our qualifications, expertise and service offerings.