Qualified Appraisal Reviews by Appraise Colorado Inc
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews must "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules, look no further than Appraise Colorado Inc.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also says that "some banks augment periodic reviews with post-funding evaluations of appraisal quality for any of their higher-liability or greater-value transactions as a control to help in discovering valuation dilemmas."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Appraise Colorado Inc, we are qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
Appraise Colorado Inc knows what the most common imperfections are, specifically in our housing market, as well as what represents a quality appraisal. Concurrently, we're skilled enough to know that our competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to fairly study appraisal reports executed by others. And those others may be evaluating our work, too!
At Appraise Colorado Inc, you can trust our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.