Columbus Appraisal Company, LLC Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Columbus Appraisal Company, LLC, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
Appraisal reviews "should find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also states that "some institutions supplement regular reviews with post-funding evaluations of appraisal quality for any of their higher-liability or higher-value affairs as a control to assist in discovering valuation concerns."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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. Here at Columbus Appraisal Company, LLC, we are trained in every form of appraisal review, review process and the requirements of review appraisers.
Columbus Appraisal Company, LLC realizes what represents a quality appraisal and what the biggest imperfections are, specifically in our real estate market. We're also adequately trained to acknowledge that our competitors in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to lawfully review appraisal reports performed by others. And those others may be studying our work, too!
In short, here at Columbus Appraisal Company, LLC, you can count on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.