Appraisal Reviews by Schuster Appraisals
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 should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Schuster Appraisals provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Schuster Appraisals today.
According to the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their high-liability or larger-value contracts as a channel to help in uncovering valuation concerns."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll develop 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 Schuster Appraisals, we are skilled in every kind of appraisal review, review practice and the obligations of review appraisers.
We're aware of what the most prevalent imperfections are, specifically in our housing market, as well as what amounts to a quality appraisal. Concurrently, we're professional enough to identify that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Schuster Appraisals to lawfully look over appraisal reports carried out by others. And those others could be studying our work, too!
For professional, unbiased, ethical appraisal review services and honest judgments, you can rely on Schuster Appraisals. Contact us regarding our qualifications, expertise and service offerings.