Premier Appraisal of SoCal Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisal of SoCal provides appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is attained guarantees independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce typical reviews with post-funding surveys of appraisal quality for a number of their high-risk or high-value affairs as a way to help in addressing valuation disputes."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely 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 experienced in every form of appraisal review, review procedure and the requirements of review appraisers.
We know what the most frequent deficiencies are, especially in our real estate market, as well as what represents a quality appraisal. We're also amply experienced to admit that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Premier Appraisal of SoCal to lawfully look over appraisal reports done by others. And those others may be evaluating our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can count on Premier Appraisal of SoCal. Contact us for more information regarding our qualifications, expertise and service offerings.