Appraisal Reviews with C.C.S Appraisals
As said in a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." C.C.S Appraisals provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call C.C.S Appraisals today.
As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality." In addition, they "should show whether the appraisal or evaluation report matches the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their higher-liability or larger-value transactions as a way to assist in addressing valuation issues."
In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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 C.C.S Appraisals, we are experienced in every type of appraisal review, review process and the responsibilities of review appraisers.
C.C.S Appraisals is aware of what represents a quality appraisal and what the biggest defects are, specifically in our real estate market. Concurrently, the professionals at C.C.S Appraisals are adequately trained to identify that the competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to justly study appraisal reports performed by others. And those others could be evaluating our work, too!
You can rely on C.C.S Appraisals for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact C.C.S Appraisals to learn more about our qualifications, expertise and services offered.