Qualified Appraisal Reviews by Coulton Company Appraisals
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews have to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Coulton Company Appraisals, we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Coulton Company Appraisals today.
As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions reinforce typical reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value affairs as a means to assist in uncovering valuation complications."
In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll formulate 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 Coulton Company Appraisals, we're qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
We realize what the most common weaknesses are, particularly in our real estate market, as well as what amounts to a quality appraisal. We're also adequately experienced to acknowledge that the competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to justly assess appraisal reports carried out by others. And those others might be examining our work, too!
Here at Coulton Company Appraisals, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.