Appraisal Reviews with Astute Appraisals, Inc.
According to an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, just contact Astute Appraisals, Inc..
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality." They "must also announce whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment routine reviews with post-funding surveys of appraisal quality for a few of their higher-risk or larger-value affairs as a control to assist in uncovering valuation issues."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll formulate 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 forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
Astute Appraisals, Inc. is aware of what the biggest defects are, especially in our home market. We also know what makes a quality appraisal. At the same time, we're amply skilled to respect that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Astute Appraisals, Inc. to ethically assess appraisal reports performed by others. And those others could be examining our work, too!
At Astute Appraisals, Inc., you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.