Since they were promulgated in the 1994 FIRREA revisions and then expanded in the 2010 Interagency Guidelines, evaluations have always been an integral part in banking for CRE valuation and collateral analysis in addition to full-blown narrative appraisal reports. However, considering impending changes to banking guidelines, evaluations are likely to become even more common.
Does this headline sound familiar to you – “…a leading independent commercial real estate valuation, advisory, and appraisal firm announced that is has acquired XYZ, a state-based commercial real estate appraisal and consulting firm…”
Many of you are familiar with Narrative1 and other narrative appraisal report writing tools available for commercial appraisers and if you're not we should talk. :) I'm here today to (hopefully) answer some frequently asked questions I often hear about Narrative1 and narrative appraisal report automation.