Qualified Appraisal Reviews with Columbus Appraisal Company, LLC
As said in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews should "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Columbus Appraisal Company, LLC, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality." They "should also announce whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for any of their high-liability or high-value dealings as a method to assist in detecting valuation issues."
In addition to adjusting 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 produce 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 Columbus Appraisal Company, LLC, we're skilled in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We are aware of what the most common defects are, particularly in our housing market, as well as what represents a quality appraisal. The professionals at Columbus Appraisal Company, LLC are also sufficiently skilled to identify that the competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Columbus Appraisal Company, LLC to objectively examine appraisal reports executed by others. And those others may be examining our work, too!
You can rely on Columbus Appraisal Company, LLC for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.