As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules, just contact Appraise Colorado Inc.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact Appraise Colorado Inc today.
As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement routine reviews with post-funding surveys of appraisal quality for some of their high-risk or higher-value transactions as a control to assist in uncovering valuation problems."
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'll prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraise Colorado Inc, we're skilled in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We understand what makes a quality appraisal and what the greatest inadequacies are, specifically in our home market. In the same regard, we're adequately trained to admit that the 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 trust us to lawfully assess appraisal reports executed by others. And those others may be studying our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can rely on Appraise Colorado Inc. Contact Appraise Colorado Inc regarding our qualifications, expertise and services offered.