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Gregg Appraisal Company (605) 870-3005 Appraisal ReviewsAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the prudent for appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Gregg Appraisal Company (605) 870-3005 provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the means by which the collateral valuation is rendered ensures independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment. The Federal Reserve also says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Gregg Appraisal Company (605) 870-3005, we're qualified in every type of appraisal review, review process and the obligations of review appraisers.
Here at Gregg Appraisal Company (605) 870-3005, you can trust our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered. |
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We understand what represents a quality appraisal and what the most prevalent defects are, especially when it comes to our local housing market.
We're also experienced enough to realize that the competitors in our market are capable of doing quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Gregg Appraisal Company (605) 870-3005 to ethically look over appraisal reports executed by others. And those others might be studying our work, too!