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Stewart Appraisal, Appraisal ReviewsAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the prudent for appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Stewart Appraisal, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the process by which the property valuation is obtained guarantees independence and quality.In addition, they should announce whether the appraisal or evaluation report is in line with the letter of engagement, which describes the outlook of the appraisal assignment. The Fed 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".
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll prepare 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 Stewart Appraisal, we're skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.
You can trust Stewart Appraisal for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings. |
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We understand what the biggest reporting imperfections are, specifically in our housing market. We also know what makes a quality appraisal. The professionals at Stewart Appraisal are also skilled enough to know that our competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly assess appraisal reports done by others. And those others might be reviewing our work, too!