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Cookus Enterprises Appraisal ReviewsAs said in 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 prudent for appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Cookus Enterprises provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the manner by which the property valuation is acquired guarantees independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment. The Federal Reserve says 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 conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely 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. At Cookus Enterprises, we are trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
When you choose Cookus Enterprises, you can be sure of our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings. |
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Cookus Enterprises knows what makes a quality appraisal and what the biggest errors are, especially when it comes to our local real estate market.
In the same regard, we're skilled enough to distinguish that our competition in our market are skillful in doing good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Cookus Enterprises to justly evaluate appraisal reports done by others. And those others could be reviewing our work, too!