Expert Appraisal Reviews with Crockett Appraisal Service, Inc.
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Crockett Appraisal Service, Inc. provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact Crockett Appraisal Service, Inc. today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions reinforce regular reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value affairs as a control to assist in addressing valuation concerns."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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. At Crockett Appraisal Service, Inc., we're experienced in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We are aware of what the greatest inadequacies are, particularly in our real estate market, as well as what represents a quality appraisal. We're also amply skilled to identify that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Crockett Appraisal Service, Inc. to ethically examine appraisal reports carried out by others. And those others might be reviewing our work, too!
In short, at Crockett Appraisal Service, Inc., you can rely on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.