Expert Appraisal Reviews by Crest Appraisal Services
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Crest Appraisal Services, we provide appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Crest Appraisal Services today.
According to the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also notes that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or greater-value affairs as a control to help in detecting valuation concerns."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will 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 trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
We realize what the most prevalent defects are, especially in our housing market. We also understand what amounts to a quality appraisal. In the same sense, the professionals at Crest Appraisal Services are sufficiently experienced to respect that our competitors in our market are qualified to do a fine job. 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 lawfully assess appraisal reports executed by others. And those others might be studying our work, too!
For professional, unbiased, ethical appraisal review services and truthful judgments, you can rely on Crest Appraisal Services. Contact us regarding our qualifications, expertise and service offerings.