Quality Appraisal Reviews by Branam's, Inc. Real EstateAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Branam's, Inc. Real Estate provides appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations.
A review appraisal has to pursue: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the procedure by which the property valuation is attained ensures independence and quality. Moreover, they should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment. The Federal Reserve also states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll prepare 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 Branam's, Inc. Real Estate, we're qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Branam's, Inc. Real Estate realizes what represents a quality appraisal and what the most prevalent deficiencies are, especially in our home market. We're also adequately trained to identify that our competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to justly examine appraisal reports executed by others. And those others may be examining our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can count on Branam's, Inc. Real Estate. Contact us for more information regarding our qualifications, expertise and services offered.