As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers completing reviews should "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Bain & Associates, Inc. provides appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, contact Bain & Associates, Inc. today.
As stated by the Federal Reserve, appraisal reviews "should conclude 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 accomplished ensures independence and quality." They "should also indicate whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value transactions as a channel to help in exposing valuation dilemmas."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate 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 are qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
Bain & Associates, Inc. knows what the biggest defects are, particularly in our housing market. We also know what represents a quality appraisal. We're also skilled enough to recognize that the competition in our market are skillful in doing a fine 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 lawfully look over appraisal reports performed by others. And those others could be examining our work, too!
You can trust Bain & Associates, Inc. for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Bain & Associates, Inc. for more information regarding our qualifications, expertise and service offerings.
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