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Competent Appraisal Reviews with Galpin IndustriesAs 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 call of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Galpin Industries, we provide appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's regulations.A review appraisal should ascertain: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the methods by which the real estate valuation is attained guarantees independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is in line with the engagement letter, which gives an account of the capacity of the appraisal assignment. The Federal Reserve also notes 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 adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Galpin Industries, we are experienced in every form of appraisal review, review procedure and the obligations of review appraisers.
At Galpin Industries, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Galpin Industries regarding our qualifications, expertise and services offered. |
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We realize what amounts to a quality appraisal and what the most prevalent defects are, particularly when it comes to our local real estate market.
We're also skilled enough to realize that our competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Galpin Industries to justly evaluate appraisal reports completed by others. And those others might be examining our work, too!