Experienced Appraisal Reviews with Bain & Associates, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Bain & Associates, Inc., we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality." They "should also signify whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a number of their higher-liability or large-value transactions as a method to aid in uncovering valuation dilemmas."
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically 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 Bain & Associates, Inc., we are qualified in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
Bain & Associates, Inc. understands what the most prevalent deficiencies are, particularly in our home market, as well as what makes a quality appraisal. We're also sufficiently experienced to distinguish that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Bain & Associates, Inc. to ethically look over appraisal reports performed by others. And those others could be reviewing our work, too!
In short, at Bain & Associates, Inc., you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Bain & Associates, Inc. regarding our qualifications, expertise and service offerings.
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