According to an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews have to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines, look no further than Crest Appraisal Services.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions supplement regular reviews with post-funding assessments of appraisal quality for some of their higher-liability or large-value dealings as a method to assist in revealing valuation dilemmas."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will produce 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 trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
We are familiar with what the greatest deficiencies are, particularly in our housing market, as well as what amounts to a quality appraisal. The professionals at Crest Appraisal Services are also sufficiently experienced to know that our competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Crest Appraisal Services to ethically review appraisal reports done by others. And those others could be examining our work, too!
In short, when you choose Crest Appraisal Services, you can count on our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Crest Appraisal Services for more information regarding our qualifications, expertise and service offerings.