Appraisal Reviews by Binder and Associates (360) 573-8114
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, expert, professional and in accordance 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 in reference to an appraisal, contact us today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. In addition, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also says that "some banks add typical reviews with post-funding assessments of appraisal quality for some of their higher-risk or high-value transactions as a means to aid in exposing valuation issues."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will prepare an appraisal review on any 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 are trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We understand what the biggest inadequacies are, specifically in our real estate market, as well as what amounts to a quality appraisal. In this regard, the professionals at Binder and Associates (360) 573-8114 are amply skilled to recognize that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Binder and Associates (360) 573-8114 to lawfully assess appraisal reports completed by others. And those others could be examining our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can rely on Binder and Associates (360) 573-8114. Contact us for more information about our qualifications, expertise and service offerings.