Premier Appraisal of SoCal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Premier Appraisal of SoCal, we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Premier Appraisal of SoCal today.
As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value contracts as a means to help in identifying valuation problems."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll produce 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're trained in every form of appraisal review, review practice and the obligations of review appraisers.
We are aware of what represents a quality appraisal and what the most common imperfections are, specifically in our home market. In the same regard, we're professional enough to realize that our competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly evaluate appraisal reports executed by others. And those others may be reviewing our work, too!
When you choose Premier Appraisal of SoCal, you can count on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Premier Appraisal of SoCal for more information regarding our qualifications, expertise and services offered.