Appraisal Reviews with Shattuck Appraisal
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Shattuck Appraisal provides appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call Shattuck Appraisal today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for any of their higher-risk or higher-value dealings as a control to help in identifying valuation concerns."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Shattuck Appraisal, we are skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
Shattuck Appraisal is aware of what the most frequent weaknesses are, particularly in our home market. We also know what amounts to a quality appraisal. We're also sufficiently skilled to know that our competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to fairly assess appraisal reports done by others. And those others may be examining our work, too!
In short, here at Shattuck Appraisal, you can have confidence in our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.