Appraisal Reviews by Astute Appraisals, Inc.
As said in a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews ought to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules, just contact Astute Appraisals, Inc..
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is obtained ensures independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some institutions add regular reviews with post-funding evaluations of appraisal quality for any of their higher-liability or higher-value contracts as a channel to assist in addressing valuation complications."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll develop 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 responsibilities of review appraisers.
We realize what the biggest defects are, particularly in our housing market, as well as what amounts to a quality appraisal. Concurrently, we're sufficiently trained to know that our competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to justly valuate appraisal reports completed by others. And those others may be reviewing our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can count on Astute Appraisals, Inc.. Contact us regarding our qualifications, expertise and service offerings.