profile picture

Quality Appraisal Reviews by Crest Appraisal Services

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For 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 about an appraisal, contact Crest Appraisal Services today.

The Federal Reserve says appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality." They "must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or high-value dealings as a way to assist in identifying valuation issues."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll prepare 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 kind of appraisal review, review practice and the responsibilities of review appraisers.

Crest Appraisal Services knows what the most common deficiencies are, particularly in our real estate market, as well as what amounts to a quality appraisal. The professionals at Crest Appraisal Services are also experienced enough to recognize that the competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Crest Appraisal Services to fairly evaluate appraisal reports done by others. And those others could be evaluating our work, too!

For professional, unbiased, ethical appraisal review services and honest judgments, you can depend on Crest Appraisal Services. Contact us regarding our qualifications, expertise and services offered.