Qualified Appraisal Reviews by Harper & Strickland, Inc.
According to an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Harper & Strickland, Inc. provides appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, call Harper & Strickland, Inc. today.
According to the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for some of their higher-liability or larger-value affairs as a way to aid in identifying valuation complications."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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. Here at Harper & Strickland, Inc., we're skilled in every kind of appraisal review, review practice and the obligations of review appraisers.
Harper & Strickland, Inc. realizes what constitutes a quality appraisal and what the most prevalent inadequacies are, particularly in our home market. The professionals at Harper & Strickland, Inc. are also trained enough to acknowledge that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to objectively review appraisal reports completed by others. And those others may be evaluating our work, too!
You can depend on Harper & Strickland, Inc. for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Harper & Strickland, Inc. to learn more about our qualifications, expertise and service offerings.