COMSTATE COMPANY Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines, look no further than COMSTATE COMPANY.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact COMSTATE COMPANY today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also notes that "some institutions augment routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or large-value affairs as a way to aid in uncovering valuation complications."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At COMSTATE COMPANY, we're qualified in every type of appraisal review, review process and the requirements of review appraisers.
We know what the biggest inadequacies are, specifically in our real estate market, as well as what makes a quality appraisal. We're also amply experienced to know that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on COMSTATE COMPANY to lawfully look over appraisal reports carried out by others. And those others might be examining our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can rely on COMSTATE COMPANY. Contact COMSTATE COMPANY to learn more about our qualifications, expertise and services offered.