Quality Appraisal Reviews with Crest Appraisal Services
According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Crest Appraisal Services provides appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their high-risk or higher-value contracts as a means to help in exposing valuation concerns."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Crest Appraisal Services, we are skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We are familiar with what the greatest weaknesses are, particularly in our housing market. We also know what constitutes a quality appraisal. The professionals at Crest Appraisal Services are also experienced enough to respect that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to objectively review appraisal reports executed by others. And those others might be studying our work, too!
You can trust Crest Appraisal Services for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Crest Appraisal Services for more information about our qualifications, expertise and services offered.