Appraisal Reviews by Columbus Appraisal Company, LLC
According to an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews are obligated to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Columbus Appraisal Company, LLC, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. Moreover, they "must indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value affairs as a way to aid in addressing valuation issues."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can prepare an appraisal review on any 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're skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
Columbus Appraisal Company, LLC realizes what the greatest imperfections are, especially in our home market, as well as what amounts to a quality appraisal. At the same time, we are sufficiently experienced to admit that the competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Columbus Appraisal Company, LLC to objectively examine appraisal reports done by others. And those others may be studying our work, too!
In short, here at Columbus Appraisal Company, LLC, you can be sure of our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.