Expert Appraisal Reviews by Crest Appraisal Services
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Crest Appraisal Services provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call Crest Appraisal Services today.
According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce regular reviews with post-funding assessments of appraisal quality for some of their high-risk or greater-value transactions as a control to help in uncovering valuation issues."
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Crest Appraisal Services, we're experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
Crest Appraisal Services understands what the most common weaknesses are, particularly in our housing market, as well as what amounts to a quality appraisal. Concurrently, we are trained enough to realize that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Crest Appraisal Services to fairly valuate appraisal reports carried out by others. And those others might be evaluating our work, too!
In short, when you choose Crest Appraisal Services, you can trust our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Crest Appraisal Services for more information about our qualifications, expertise and service offerings.