Appraisal Reviews by Crockett Appraisal Service, Inc.
As said in a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's regulations, just contact Crockett Appraisal Service, Inc..
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Crockett Appraisal Service, Inc. today.
Appraisal reviews "have to verify whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also says that "some financial institutions add routine reviews with post-funding assessments of appraisal quality for a few of their high-liability or high-value affairs as a control to aid in addressing valuation issues."
In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will 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 practices and the responsibilities of review appraisers.
We're aware of what the greatest inadequacies are, specifically in our real estate market. We also understand what represents a quality appraisal. In this regard, we are sufficiently skilled to distinguish that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to objectively look over appraisal reports performed by others. And those others might be studying our work, too!
You can depend on Crockett Appraisal Service, Inc. for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Crockett Appraisal Service, Inc. regarding our qualifications, expertise and service offerings.