Quality Appraisal Reviews by Astute Appraisals, Inc.
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Astute Appraisals, Inc. provides appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Astute Appraisals, Inc. today.
Appraisal reviews "have to determine whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value transactions as a method to help in uncovering valuation issues."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will 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. At Astute Appraisals, Inc., we're trained in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
We are aware of what the biggest inadequacies are, specifically in our real estate market. We also understand what constitutes a quality appraisal. At the same time, we're trained enough to realize that our competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to objectively study appraisal reports completed by others. And those others could be studying our work, too!
In short, at Astute Appraisals, Inc., you can count on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.