Premier Appraisal of SoCal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews should "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's rules, just contact Premier Appraisal of SoCal.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. In addition, they "should denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement typical reviews with post-funding assessments of appraisal quality for any of their high-liability or higher-value affairs as a method to help in revealing valuation concerns."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will 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 Premier Appraisal of SoCal, we're skilled in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
Premier Appraisal of SoCal knows what the most frequent deficiencies are, specifically in our home market, as well as what makes a quality appraisal. We're also experienced enough to recognize that our competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively examine appraisal reports performed by others. And those others may be studying our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can rely on Premier Appraisal of SoCal. Contact us for more information regarding our qualifications, expertise and services offered.