Expert Appraisal Reviews with Astute Appraisals, Inc.
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At Astute Appraisals, Inc., we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Astute Appraisals, Inc. today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality." They "must also denote whether the appraisal or evaluation report matches the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions add regular reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value affairs as a means to help in detecting valuation issues."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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 trained in every type of appraisal review, review process and the requirements of review appraisers.
We're aware of what constitutes a quality appraisal and what the most frequent weaknesses are, especially in our real estate market. The professionals at Astute Appraisals, Inc. are also adequately trained to identify that our competition in our market are capable of doing a great job. 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 ethically study appraisal reports completed by others. And those others might be reviewing our work, too!
In short, when you choose Astute Appraisals, Inc., you can be sure of our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.