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Quality Appraisal Reviews with Bradley & AssociatesAs 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 it's the obligation of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Bradley & Associates provides appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.A review appraisal has to verify: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the manners by which the property valuation is obtained guarantees independence and quality. In addition, they must signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the outlook of the appraisal assignment. The Federal Reserve 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 coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Bradley & Associates, we are skilled in every form of appraisal review, review practice and the responsibilities of review appraisers.
When you choose Bradley & Associates, you can trust our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered. |
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We are aware of what represents a quality appraisal and what the most prevalent deficiencies are, specifically for reports in our local real estate market.
In the same sense, the professionals at Bradley & Associates are adequately skilled to respect that the competitors in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Bradley & Associates to justly study appraisal reports done by others. And those others could be reviewing our work, too!