CSCC Appraisal Services, Inc. Appraisal ReviewsAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers undertaking reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at CSCC Appraisal Services, Inc., we provide appraisal review services that are independent, efficient, professional and square with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is applicable for the transaction, the liability inherit in the transaction, and whether the procedures by which the real estate valuation is attained ensures independence and quality. Moreover, they should denote whether the appraisal or evaluation report is in line with the letter of engagement, which describes the outlook of the appraisal assignment. Lastly, the Federal Reserve 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 adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely 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 CSCC Appraisal Services, Inc., we're skilled in all types of appraisal reviews, review procedures and the obligations of review appraisers.
We understand what the most prevalent reporting weaknesses are, particularly in our home market. We also know what represents a quality appraisal. In this regard, the professionals at CSCC Appraisal Services, Inc. are amply experienced to know that the competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to objectively study appraisal reports carried out by others. And those others could be evaluating our work, too!
In short, when you choose CSCC Appraisal Services, Inc., you can count on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.