Complete Appraisal Reviews with Mid-Columbia Appraisal Service, Inc.According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers preparing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Mid-Columbia Appraisal Service, Inc. provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.
A review appraisal should pursue: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality. The review must also indicate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment. The Federal Reserve also states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Mid-Columbia Appraisal Service, Inc., we're qualified in every type of appraisal review, review process and the obligations of review appraisers.
Mid-Columbia Appraisal Service, Inc. realizes what the most prevalent report deficiencies are, particularly in our home market, as well as what makes a quality appraisal. Concurrently, we are skilled enough to realize that the competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Mid-Columbia Appraisal Service, Inc. to justly examine appraisal reports done by others. And those others may be studying our work, too!
At Mid-Columbia Appraisal Service, Inc., you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.