Qualified Appraisal Reviews by Crest Appraisal Services

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews must "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations, just contact Crest Appraisal Services.

As stated by the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality." They "must also denote whether the appraisal or evaluation report matches the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or larger-value transactions as a means to assist in detecting 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 normally used for review services, and we'll produce 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 Crest Appraisal Services, we are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.