Appraisal ReviewsAccording to a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At Crane Appraisal Service, we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations. 
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today. According to the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for some of their higher-liability or larger-value transactions as a control to assist in revealing valuation issues." In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Crane Appraisal Service, we're qualified in every type of appraisal review, review procedure and the responsibilities of review appraisers. Crane Appraisal Service understands what the greatest inadequacies are, especially in our real estate market, as well as what amounts to a quality appraisal. In the same sense, we're skilled enough to acknowledge that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to objectively look over appraisal reports executed by others. And those others could be examining our work, too! Here at Crane Appraisal Service, you can count on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Crane Appraisal Service for more information about our qualifications, expertise and service offerings. |