Appraisal Reviews with Columbus Appraisal Company, LLC
As said in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Columbus Appraisal Company, LLC, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for some of their higher-liability or large-value transactions as a means to aid in uncovering valuation complications."
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're trained in every type of appraisal review, review process and the responsibilities of review appraisers.
We are aware of what the biggest deficiencies are, especially in our housing market. We also understand what represents a quality appraisal. In this regard, we're proficient enough to acknowledge that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically assess appraisal reports executed by others. And those others may be examining our work, too!
You can count on Columbus Appraisal Company, LLC for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.