Experienced Appraisal Reviews by Columbus Appraisal Company, LLC
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Columbus Appraisal Company, LLC provides appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact Columbus Appraisal Company, LLC today.
The Federal Reserve says appraisal reviews "should verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is collected guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or large-value contracts as a control to aid in revealing valuation disputes."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can formulate 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 qualified in all types of appraisal reviews, review procedures and the requirements of review appraisers.
Columbus Appraisal Company, LLC knows what the most common weaknesses are, specifically in our real estate market, as well as what constitutes a quality appraisal. Concurrently, the professionals at Columbus Appraisal Company, LLC are amply experienced to recognize that the competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly look over appraisal reports done by others. And those others could be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on Columbus Appraisal Company, LLC. Contact Columbus Appraisal Company, LLC for more information about our qualifications, expertise and service offerings.