Bain & Associates, Inc. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Bain & Associates, Inc., we provide appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact Bain & Associates, Inc. today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions augment regular reviews with post-funding surveys of appraisal quality for any of their higher-liability or greater-value dealings as a means to help in identifying valuation disputes."
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'll produce 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 qualified in all forms of appraisal reviews, review practices and the obligations of review appraisers.
We understand what amounts to a quality appraisal and what the most common imperfections are, particularly in our home market. In the same regard, we are amply trained to identify that our competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically look over appraisal reports done by others. And those others may be examining our work, too!
At Bain & Associates, Inc., you can rely on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Bain & Associates, Inc. for more information about our qualifications, expertise and services offered.
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