Appraisal Reviews with Crockett Appraisal Service, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Crockett Appraisal Service, Inc. provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Crockett Appraisal Service, Inc. today.
Appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. They "must also signify whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some institutions augment regular reviews with post-funding surveys of appraisal quality for any of their higher-liability or higher-value affairs as a channel to assist in uncovering valuation issues."
In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally 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 Crockett Appraisal Service, Inc., we are qualified in all types of appraisal reviews, review procedures and the obligations of review appraisers.
Crockett Appraisal Service, Inc. is aware of what the greatest imperfections are, specifically in our housing market. We also understand what makes a quality appraisal. We're also adequately experienced to acknowledge that the competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to justly assess appraisal reports performed by others. And those others might be studying our work, too!
When you choose Crockett Appraisal Service, Inc., you can have confidence in 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 services offered.