Quality Appraisal Reviews by Astute Appraisals, Inc.
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Astute Appraisals, Inc. provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "should find out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. Moreover, they "must show whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for any of their higher-liability or greater-value dealings as a method to aid in discovering valuation issues."
In addition to coordinating 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'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Astute Appraisals, Inc., we're experienced in all forms of appraisal reviews, review processes and the obligations of review appraisers.
We are aware of what the greatest defects are, particularly in our real estate market. We also understand what represents a quality appraisal. At the same time, the professionals at Astute Appraisals, Inc. are sufficiently experienced to respect that our competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Astute Appraisals, Inc. to ethically assess appraisal reports carried out by others. And those others could be reviewing our work, too!
At Astute Appraisals, Inc., you can rely on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Astute Appraisals, Inc. for more information about our qualifications, expertise and service offerings.