Appraisal Reviews with Premier Appraisal of SoCal
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Premier Appraisal of SoCal, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, call Premier Appraisal of SoCal today.
The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality." They "must also indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or higher-value affairs as a means to assist in exposing valuation complications."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely 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 obligations of review appraisers.
We are aware of what the biggest defects are, particularly in our real estate market. We also understand what constitutes a quality appraisal. At the same time, the professionals at Premier Appraisal of SoCal are amply skilled to acknowledge that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Premier Appraisal of SoCal to justly valuate appraisal reports done by others. And those others could be examining our work, too!
In short, at Premier Appraisal of SoCal, you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Premier Appraisal of SoCal regarding our qualifications, expertise and services offered.