Quality Appraisal Reviews by Crest Appraisal Services
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Crest Appraisal Services, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. Moreover, they "should show whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value affairs as a means to assist in uncovering valuation complications."
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll produce 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 qualified in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
Crest Appraisal Services realizes what the most common deficiencies are, specifically in our home market. We also know what represents a quality appraisal. In the same regard, we are sufficiently trained to identify that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Crest Appraisal Services to objectively look over appraisal reports carried out by others. And those others might be examining our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on Crest Appraisal Services. Contact us for more information regarding our qualifications, expertise and services offered.