Appraisal Reviews with Premier Appraisal of SoCal
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's regulations, just contact Premier Appraisal of SoCal.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality." They "must also show whether the appraisal or evaluation report is compatible with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for any of their high-liability or high-value transactions as a control to assist in uncovering valuation dilemmas."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Premier Appraisal of SoCal, we are experienced in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We understand what the biggest defects are, especially in our home market. We also know what represents a quality appraisal. In the same sense, we're trained enough to acknowledge that the competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Premier Appraisal of SoCal to justly examine appraisal reports done by others. And those others might be evaluating our work, too!
In short, when you choose Premier Appraisal of SoCal, you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Premier Appraisal of SoCal for more information about our qualifications, expertise and services offered.