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Competent Appraisal Reviews with Schaeffer Appraisal Services
As said in a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
it's the call of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Schaeffer Appraisal Services provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the actions by which the property valuation is rendered ensures independence and quality.
The review should also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the reach of the appraisal assignment.
The Fed also states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
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If you need a real estate appraisal review or have questions in reference to an appraisal, call us today. |
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In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 Schaeffer Appraisal Services, we are trained in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
Schaeffer Appraisal Services is aware of what the most prevalent reporting defects are, specifically in our housing market. We also understand what makes a quality appraisal.
At the same time, we are experienced enough to admit that the competitors in our market are capable of doing a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Schaeffer Appraisal Services to ethically review appraisal reports done by others. And those others could be evaluating our work, too!
For professional, unbiased, ethical appraisal review services and truthful judgments, you can count on Schaeffer Appraisal Services.
Contact us for more information about our qualifications, expertise and service offerings.
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