Expert Appraisal Reviews with CRANE REAL ESTATE APPRAISALS
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At CRANE REAL ESTATE APPRAISALS, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement routine reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value affairs as a means to aid in identifying valuation problems."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can 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. Here at CRANE REAL ESTATE APPRAISALS, we are qualified in every kind of appraisal review, review process and the requirements of review appraisers.
CRANE REAL ESTATE APPRAISALS is aware of what the most prevalent weaknesses are, specifically in our real estate market, as well as what amounts to a quality appraisal. In the same sense, the professionals at CRANE REAL ESTATE APPRAISALS are adequately trained to respect that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully examine appraisal reports executed by others. And those others could be studying our work, too!
In short, here at CRANE REAL ESTATE APPRAISALS, you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact CRANE REAL ESTATE APPRAISALS to learn more about our qualifications, expertise and service offerings.