Appraisal Reviews by Columbus Appraisal Company, LLC
According to an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At Columbus Appraisal Company, LLC, we provide appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, call Columbus Appraisal Company, LLC today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value transactions as a channel to help in identifying valuation dilemmas."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will produce 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 every type of appraisal review, review process and the obligations of review appraisers.
We realize what the greatest imperfections are, specifically in our housing market, as well as what makes a quality appraisal. The professionals at Columbus Appraisal Company, LLC are also adequately experienced to realize that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Columbus Appraisal Company, LLC to ethically review appraisal reports carried out by others. And those others might be evaluating our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can count on Columbus Appraisal Company, LLC. Contact Columbus Appraisal Company, LLC for more information regarding our qualifications, expertise and service offerings.