Skilled Appraisal Reviews by Champ Rock Appraisals, LLCAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the expectation of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Champ Rock Appraisals, LLC provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.
A review appraisal has to detect: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment. The Federal Reserve goes on to say 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 tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll develop 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 Champ Rock Appraisals, LLC, we're qualified in every kind of appraisal review, review process and the requirements of review appraisers.
We realize what constitutes a quality appraisal and what the greatest errors are, specifically in our home market. We're also trained enough to distinguish that the competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Champ Rock Appraisals, LLC to ethically review appraisal reports carried out by others. And those others might be studying our work, too!
You can rely on Champ Rock Appraisals, LLC for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Champ Rock Appraisals, LLC to learn more about our qualifications, expertise and service offerings.