Appraisal Reviews by Columbus Appraisal Company, LLC
According to an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Columbus Appraisal Company, LLC provides appraisal review services that are unbiased, qualified, professional and square 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.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is collected guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add regular reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value affairs as a means to help in exposing valuation dilemmas."
In addition to coordinating our work to the processes and guidelines of our review customers, 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. At Columbus Appraisal Company, LLC, we are trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.
Columbus Appraisal Company, LLC understands what the greatest imperfections are, particularly in our real estate market. We also understand what constitutes a quality appraisal. We're also sufficiently skilled to distinguish that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully look over appraisal reports performed by others. And those others might be evaluating our work, too!
You can trust Columbus Appraisal Company, LLC for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Columbus Appraisal Company, LLC for more information about our qualifications, expertise and services offered.