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Skilled Appraisal Reviews by Stouffers Appraisal ServiceAccording to 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 expectation of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Stouffers Appraisal Service, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the risk inherit in the transaction, and whether the processes by which the property valuation is acquired guarantees independence and quality. The review should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the scope of the appraisal assignment. The Federal Reserve also notes 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".
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely 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. At Stouffers Appraisal Service, we are qualified in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
In short, when you choose Stouffers Appraisal Service, you can rely on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Stouffers Appraisal Service for more information regarding our qualifications, expertise and services offered. |
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Stouffers Appraisal Service understands what amounts to a quality appraisal and what the greatest defects are, particularly for reports in our local housing market.
Concurrently, we are proficient enough to admit that the competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly look over appraisal reports carried out by others. And those others may be reviewing our work, too!