Appraisal Reviews with Columbus Appraisal Company, LLC
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Columbus Appraisal Company, LLC, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or greater-value contracts as a means to aid in exposing valuation complications."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Columbus Appraisal Company, LLC, we are skilled in every kind of appraisal review, review process and the responsibilities of review appraisers.
We're aware of what the most prevalent defects are, particularly in our housing market, as well as what constitutes a quality appraisal. Concurrently, we are adequately trained to respect that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to objectively evaluate appraisal reports done by others. And those others could be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and honest judgments, you can rely on Columbus Appraisal Company, LLC. Contact Columbus Appraisal Company, LLC for more information about our qualifications, expertise and service offerings.