Appraisal Reviews with 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 plan," and that appraisers fulfilling reviews should "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations, contact Crest Appraisal Services.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must show whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some banks add typical reviews with post-funding surveys of appraisal quality for a few of their high-liability or greater-value transactions as a method to help in discovering valuation complications."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can 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 are qualified in every type of appraisal review, review practice and the responsibilities of review appraisers.
Crest Appraisal Services knows what the biggest defects are, specifically in our real estate market. We also understand what makes a quality appraisal. In this regard, we are proficient enough to realize that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to lawfully examine appraisal reports executed by others. And those others might be examining our work, too!
In short, here at Crest Appraisal Services, you can rely on our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Crest Appraisal Services regarding our qualifications, expertise and service offerings.