Expert Appraisal Reviews with Gilpatric Consulting
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Gilpatric Consulting provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Gilpatric Consulting today.
The Federal Reserve says appraisal reviews "ought to find out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is collected guarantees independence and quality." They "should also denote 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 banks augment routine reviews with post-funding surveys of appraisal quality for a few of their high-risk or greater-value affairs as a means to help in detecting valuation disputes."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will 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. At Gilpatric Consulting, we are skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are aware of what constitutes a quality appraisal and what the most prevalent defects are, particularly in our housing market. In the same regard, we are adequately experienced to acknowledge that the competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Gilpatric Consulting to ethically study appraisal reports performed by others. And those others could be examining our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can rely on Gilpatric Consulting. Contact us to learn more about our qualifications, expertise and service offerings.