Experienced Appraisal Reviews by Bain & Associates, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews must "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Bain & Associates, Inc. provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "have to decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. Moreover, they "should signify whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions add routine reviews with post-funding evaluations of appraisal quality for any of their high-risk or large-value contracts as a method to assist in identifying valuation concerns."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will 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. At Bain & Associates, Inc., we are skilled in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We are aware of what makes a quality appraisal and what the biggest imperfections are, especially in our housing market. We're also amply skilled to acknowledge that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Bain & Associates, Inc. to objectively examine appraisal reports done by others. And those others could be examining our work, too!
In short, here at Bain & Associates, Inc., you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.
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