Experienced Appraisal Reviews with Bain & Associates, Inc.
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Bain & Associates, Inc. provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Bain & Associates, Inc. today.
As stated by the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is collected guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or high-value dealings as a means to aid in addressing valuation complications."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll develop 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 Bain & Associates, Inc., we're experienced in all types of appraisal reviews, review procedures and the obligations of review appraisers.
We know what the most prevalent inadequacies are, particularly in our housing market. We also understand what constitutes a quality appraisal. We're also trained enough to identify that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Bain & Associates, Inc. to lawfully examine appraisal reports carried out by others. And those others might be reviewing our work, too!
When you choose Bain & Associates, Inc., you can be sure of our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.
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