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 programs," and that appraisers fulfilling reviews should "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Crest Appraisal Services, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Crest Appraisal Services today.
Appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also says that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value transactions as a control to aid in uncovering 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 generally 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 kind of appraisal review, review process and the responsibilities of review appraisers.
We know what the most frequent defects are, particularly in our real estate market, as well as what represents a quality appraisal. Concurrently, we are trained enough to know that the competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly evaluate appraisal reports completed by others. And those others might be evaluating our work, too!
In short, when you choose Crest Appraisal Services, you can count on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Crest Appraisal Services regarding our qualifications, expertise and services offered.