Expert Appraisal Reviews with Astute Appraisals, Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews must "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Astute Appraisals, Inc., we provide appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact Astute Appraisals, Inc. today.
Appraisal reviews "must determine whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or high-value transactions as a way to aid in addressing valuation issues."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will 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 Astute Appraisals, Inc., we are skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.
We understand what the most frequent weaknesses are, especially in our housing market, as well as what constitutes a quality appraisal. In the same regard, we are adequately trained to know that the competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Astute Appraisals, Inc. to fairly look over appraisal reports executed by others. And those others could be evaluating our work, too!
In short, when you choose Astute Appraisals, Inc., you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.