Qualified Appraisal Reviews with Crest Appraisal Services
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews are obligated to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Crest Appraisal Services provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or large-value dealings as a method to assist in revealing valuation problems."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Crest Appraisal Services, we're qualified in every kind of appraisal review, review procedure and the obligations of review appraisers.
Crest Appraisal Services understands what the greatest weaknesses are, specifically in our real estate market, as well as what makes a quality appraisal. The professionals at Crest Appraisal Services are also trained enough to identify that our competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to lawfully examine appraisal reports performed by others. And those others could be evaluating our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can count on Crest Appraisal Services. Contact us regarding our qualifications, expertise and service offerings.