For appraisal review services in Broome, contact Jim Murray Appraisal Service

Jim Murray Appraisal Service Appraisal Reviews

According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers doing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Jim Murray Appraisal Service, we provide appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's regulations.

The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the manners by which the real estate valuation is acquired ensures independence and quality. The review must also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the reach of the appraisal assignment. Lastly, the Fed 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".


	If you need a real estate appraisal review or have questions about an appraisal, contact Jim Murray Appraisal Service today.

In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will produce 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 Jim Murray Appraisal Service, we're qualified in every type of appraisal review, review procedure and the obligations of review appraisers.

For appraisal review services in Broome, contact Jim Murray Appraisal Service We are aware of what the greatest reporting weaknesses are, especially in our home market. We also understand what amounts to a quality appraisal. At the same time, we're adequately trained to acknowledge that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Jim Murray Appraisal Service to objectively examine appraisal reports executed by others. And those others could be reviewing our work, too!

In short, when you choose Jim Murray Appraisal Service, you can trust our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.