Qualified Appraisal Reviews by Schau Appraisals Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules, contact Schau Appraisals Inc..
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. Moreover, they "should denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or higher-value dealings as a control to aid in discovering valuation problems."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Schau Appraisals Inc., we're skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We're aware of what amounts to a quality appraisal and what the biggest inadequacies are, especially in our real estate market. Concurrently, we're proficient enough to know that our competitors in our market are able to do a fine job. 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 evaluate appraisal reports done by others. And those others might be studying our work, too!
In short, when you choose Schau Appraisals Inc., you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Schau Appraisals Inc. regarding our qualifications, expertise and service offerings.