Appraisal Reviews with Premier Appraisal of SoCal
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Premier Appraisal of SoCal, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "ought to decide whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value dealings as a way to aid in revealing 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 largely used for review services, and we'll produce 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 Premier Appraisal of SoCal, we're trained in every form of appraisal review, review practice and the requirements of review appraisers.
We are familiar with what the most frequent weaknesses are, specifically in our housing market. We also understand what represents a quality appraisal. Concurrently, we are adequately skilled to know that our competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to justly look over appraisal reports done by others. And those others may be reviewing our work, too!
In short, at Premier Appraisal of SoCal, you can have confidence in our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.