Quality Appraisal Reviews with Cosh Property Appraisals
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Cosh Property Appraisals, we provide appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Cosh Property Appraisals today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "should show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or higher-value dealings as a way to aid in detecting valuation issues."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally 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 Cosh Property Appraisals, we are trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what the greatest inadequacies are, especially in our home market, as well as what constitutes a quality appraisal. We're also experienced enough to identify that our competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Cosh Property Appraisals to lawfully review appraisal reports executed by others. And those others may be evaluating our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can count on Cosh Property Appraisals. Contact Cosh Property Appraisals for more information regarding our qualifications, expertise and services offered.