As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's guidelines, just contact Appraise Colorado Inc.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. They "must also show whether the appraisal or evaluation report is even with the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for any of their high-liability or larger-value contracts as a way to assist in revealing valuation problems."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraise Colorado Inc, we are trained in every kind of appraisal review, review process and the obligations of review appraisers.
We know what the most common deficiencies are, particularly in our real estate market. We also know what amounts to a quality appraisal. The professionals at Appraise Colorado Inc are also amply skilled to realize that our competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Appraise Colorado Inc to justly study appraisal reports performed by others. And those others might be reviewing our work, too!
You can trust Appraise Colorado Inc for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Appraise Colorado Inc regarding our qualifications, expertise and service offerings.