Qualified Appraisal Reviews with Bain & Associates, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations, look no further than Bain & Associates, Inc..
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality." In addition, they "should signify whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions add periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or high-value transactions as a method to assist in uncovering valuation dilemmas."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally 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 trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
Bain & Associates, Inc. realizes what the biggest defects are, particularly in our real estate market, as well as what makes a quality appraisal. We're also experienced enough to know that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Bain & Associates, Inc. to fairly examine appraisal reports completed by others. And those others could be reviewing our work, too!
When you choose Bain & Associates, Inc., you can be sure of our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Bain & Associates, Inc. for more information regarding our qualifications, expertise and service offerings.
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