Appraisal Reviews by Astute Appraisals, Inc.
According to a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines, contact Astute Appraisals, Inc..
If you need a real estate appraisal review or have questions regarding an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected ensures independence and quality." They "must also announce whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also notes that "some banks augment regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or higher-value transactions as a way to aid in exposing valuation issues."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can 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 Astute Appraisals, Inc., we are experienced in all types of appraisal reviews, review processes and the obligations of review appraisers.
We realize what the most frequent deficiencies are, specifically in our real estate market, as well as what constitutes a quality appraisal. The professionals at Astute Appraisals, Inc. are also skilled enough to realize that the competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully examine appraisal reports completed by others. And those others might be reviewing our work, too!
In short, here at Astute Appraisals, Inc., you can trust our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Astute Appraisals, Inc. to learn more about our qualifications, expertise and services offered.