Appraisal Reviews by Columbus Appraisal Company, LLC
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Columbus Appraisal Company, LLC, we provide appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Columbus Appraisal Company, LLC today.
According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding assessments of appraisal quality for a number of their high-risk or high-value transactions as a control to help in identifying valuation dilemmas."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will prepare 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're qualified in every form of appraisal review, review practice and the requirements of review appraisers.
Columbus Appraisal Company, LLC understands what the biggest defects are, specifically in our real estate market, as well as what amounts to a quality appraisal. We're also experienced enough to respect that our competition in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Columbus Appraisal Company, LLC to justly review appraisal reports carried out by others. And those others may be evaluating our work, too!
When you choose Columbus Appraisal Company, LLC, you can trust our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Columbus Appraisal Company, LLC for more information regarding our qualifications, expertise and services offered.