Quality Appraisal Reviews with The Fourman Group
As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." The Fourman Group provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact The Fourman Group today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some institutions augment regular reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value transactions as a way to help in identifying valuation issues."
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The Fourman Group knows what the most common deficiencies are, particularly in our home market. We also know what makes a quality appraisal. We're also amply trained to know that our competition in our market is skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively assess appraisal reports performed by others. And those others may be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on The Fourman Group. Contact us regarding our qualifications, expertise and service offerings.