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Quality Appraisal Reviews by Cooper Turner Appraisals, Inc.As stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers engaged in reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Cooper Turner Appraisals, Inc. provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the method by which the collateral valuation is acquired guarantees independence and quality. The review must also announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the range of the appraisal assignment. The Federal Reserve notes 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 procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Cooper Turner Appraisals, Inc., we are trained in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
When you choose Cooper Turner Appraisals, Inc., you can rely on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered. |
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We are familiar with what constitutes a quality appraisal and what the biggest errors are, especially in our local real estate market.
The professionals at Cooper Turner Appraisals, Inc. are also trained enough to acknowledge that the competitors in our market are able to do a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Cooper Turner Appraisals, Inc. to fairly look over appraisal reports carried out by others. And those others may be examining our work, too!