Appraisal Reviews with CMRE Appraisals Inc.
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews are obligated to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." CMRE Appraisals Inc. provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call CMRE Appraisals Inc. today.
As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or higher-value transactions as a control to help in identifying valuation disputes."
In addition to adjusting our work to the processes 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at CMRE Appraisals Inc., we're trained in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
We know what the biggest inadequacies are, particularly in our home market. We also know what represents a quality appraisal. We're also sufficiently experienced to know that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on CMRE Appraisals Inc. to lawfully look over appraisal reports executed by others. And those others may be studying our work, too!
In short, here at CMRE Appraisals Inc., you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.