Experienced Appraisal Reviews with Crest Appraisal Services
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Crest Appraisal Services, we provide appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "must indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for a number of their high-liability or greater-value contracts as a means to help in detecting valuation complications."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will 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 are qualified in every type of appraisal review, review practice and the requirements of review appraisers.
We're aware of what makes a quality appraisal and what the greatest defects are, particularly in our real estate market. In the same regard, we are amply experienced to admit that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Crest Appraisal Services to ethically evaluate appraisal reports performed by others. And those others may be reviewing our work, too!
When you choose Crest Appraisal Services, you can count on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Crest Appraisal Services to learn more about our qualifications, expertise and services offered.