Binder and Associates (360) 573-8114 Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Binder and Associates (360) 573-8114 provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "have to verify whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. They "should also signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for a few of their higher-risk or high-value dealings as a way to help in uncovering valuation problems."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll 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 all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We know what the greatest inadequacies are, particularly in our real estate market, as well as what represents a quality appraisal. In the same sense, we're trained enough to know that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to objectively review appraisal reports executed by others. And those others might be evaluating our work, too!
You can trust Binder and Associates (360) 573-8114 for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Binder and Associates (360) 573-8114 regarding our qualifications, expertise and service offerings.