Appraisal Reviews with Columbus Appraisal Company, LLC
According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Columbus Appraisal Company, LLC provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
The Federal Reserve says appraisal reviews "ought to conclude whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value affairs as a means to assist in detecting valuation problems."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Columbus Appraisal Company, LLC, we are skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.
Columbus Appraisal Company, LLC is aware of what makes a quality appraisal and what the biggest deficiencies are, particularly in our housing market. At the same time, we're trained enough to distinguish that our competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to objectively study appraisal reports carried out by others. And those others could be reviewing our work, too!
Here at Columbus Appraisal Company, LLC, you can be sure of our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Columbus Appraisal Company, LLC to learn more about our qualifications, expertise and service offerings.