Quality Appraisal Reviews with Columbus Appraisal Company, LLC
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews are obligated to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Columbus Appraisal Company, LLC provides appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality." They "must also announce whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions supplement typical reviews with post-funding surveys of appraisal quality for any of their higher-risk or larger-value contracts as a method to assist in uncovering valuation dilemmas."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll prepare 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 experienced in every form of appraisal review, review practice and the responsibilities of review appraisers.
Columbus Appraisal Company, LLC understands what the most common imperfections are, particularly in our real estate market. We also understand what makes a quality appraisal. We're also amply experienced to identify that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Columbus Appraisal Company, LLC to ethically evaluate appraisal reports performed by others. And those others may be examining our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can depend on Columbus Appraisal Company, LLC. Contact us to learn more about our qualifications, expertise and service offerings.