Appraisal Reviews by Premier Appraisal of SoCal
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews must "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules, look no further than Premier Appraisal of SoCal.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Premier Appraisal of SoCal today.
Appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report is even with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions add typical reviews with post-funding assessments of appraisal quality for a few of their high-risk or high-value dealings as a means to help in detecting valuation disputes."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally 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. Here at Premier Appraisal of SoCal, we're trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
Premier Appraisal of SoCal realizes what the biggest weaknesses are, especially in our housing market, as well as what constitutes a quality appraisal. We're also trained enough to recognize that our competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully examine appraisal reports completed by others. And those others might be studying our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can depend on Premier Appraisal of SoCal. Contact us for more information about our qualifications, expertise and service offerings.