Quality Appraisal Reviews by Crest Appraisal Services
As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Crest Appraisal Services provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions in reference to an appraisal, call Crest Appraisal Services today.
The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality." They "must also signify whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks add periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or large-value affairs as a method to aid in detecting valuation disputes."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can develop an appraisal review on any one 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 skilled in every type of appraisal review, review process and the requirements of review appraisers.
Crest Appraisal Services realizes what the most common deficiencies are, particularly in our home market. We also understand what constitutes a quality appraisal. At the same time, we are amply skilled to recognize that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Crest Appraisal Services to objectively examine appraisal reports carried out by others. And those others could be evaluating our work, too!
In short, when you choose Crest Appraisal Services, you can have confidence in our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.