Binder and Associates (360) 573-8114 Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Binder and Associates (360) 573-8114, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report matches the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks add regular reviews with post-funding surveys of appraisal quality for a few of their higher-risk or large-value dealings as a means to assist in discovering valuation dilemmas."
In addition to coordinating 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 will prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Binder and Associates (360) 573-8114, we are qualified in every type of appraisal review, review practice and the obligations of review appraisers.
Binder and Associates (360) 573-8114 understands what the most prevalent defects are, particularly in our housing market, as well as what represents a quality appraisal. We're also skilled enough to identify that our competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Binder and Associates (360) 573-8114 to lawfully review appraisal reports carried out by others. And those others may be studying our work, too!
In short, when you choose Binder and Associates (360) 573-8114, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.