As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's regulations, contact Collateral Risk Associates LLC.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Collateral Risk Associates LLC today.
Appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment typical reviews with post-funding surveys of appraisal quality for a few of their high-liability or greater-value transactions as a method to assist in detecting valuation disputes."
In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are typically 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 Collateral Risk Associates LLC, we are qualified in every type of appraisal review, review procedure and the requirements of review appraisers.
Collateral Risk Associates LLC knows what makes a quality appraisal and what the most common deficiencies are, especially in our home market. In the same regard, we're sufficiently skilled to distinguish that our 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 Collateral Risk Associates LLC to lawfully examine appraisal reports performed by others. And those others could be examining our work, too!
At Collateral Risk Associates LLC, you can trust our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Collateral Risk Associates LLC for more information about our qualifications, expertise and services offered.