As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers completing reviews should "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Columbus Appraisal Company, LLC provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Columbus Appraisal Company, LLC today.
As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment regular reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value contracts as a way to help in revealing valuation dilemmas."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can produce an appraisal review on any 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 trained in every form of appraisal review, review practice and the responsibilities of review appraisers.
We know what represents a quality appraisal and what the biggest inadequacies are, especially in our real estate market. Concurrently, we're experienced enough to distinguish that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly study appraisal reports completed by others. And those others could be studying our work, too!
In short, when you choose Columbus Appraisal Company, LLC, you can trust our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.