Quality Appraisal Reviews by Binder and Associates (360) 573-8114
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers doing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Binder and Associates (360) 573-8114 provides appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call Binder and Associates (360) 573-8114 today.
According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or large-value dealings as a channel to help in addressing valuation concerns."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll 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 skilled in all forms of appraisal reviews, review practices and the obligations of review appraisers.
Binder and Associates (360) 573-8114 is aware of what constitutes a quality appraisal and what the most prevalent defects are, especially in our home market. We're also sufficiently trained to know that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Binder and Associates (360) 573-8114 to fairly valuate appraisal reports done by others. And those others could be studying our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can rely on Binder and Associates (360) 573-8114. Contact Binder and Associates (360) 573-8114 for more information about our qualifications, expertise and services offered.