Experienced Appraisal Reviews by Crest Appraisal Services
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews should "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Crest Appraisal Services, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Crest Appraisal Services today.
Appraisal reviews "ought to 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 collected guarantees independence and quality," according to the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for a number of their high-risk or higher-value transactions as a control to assist in detecting valuation disputes."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll formulate 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're experienced in every type of appraisal review, review practice and the requirements of review appraisers.
Crest Appraisal Services knows what the most common imperfections are, especially in our real estate market. We also understand what amounts to a quality appraisal. In this regard, we're experienced enough to realize that the competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly evaluate appraisal reports performed by others. And those others may be studying our work, too!
Here at Crest Appraisal Services, you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.