Qualified Appraisal Reviews by GDB Appraisal Services, Inc
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." GDB Appraisal Services, Inc provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook 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-liability or greater-value contracts as a means to help in revealing valuation concerns."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at GDB Appraisal Services, Inc, we are trained in all types of appraisal reviews, review procedures and the obligations of review appraisers.
We know what the most common defects are, specifically in our real estate market, as well as what amounts to a quality appraisal. The professionals at GDB Appraisal Services, Inc are also sufficiently skilled to recognize that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully evaluate appraisal reports carried out by others. And those others might be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and truthful judgments, you can depend on GDB Appraisal Services, Inc. Contact GDB Appraisal Services, Inc for more information about our qualifications, expertise and service offerings.