Premier Appraisal of SoCal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Premier Appraisal of SoCal, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their high-liability or greater-value dealings as a way to aid in uncovering valuation disputes."
In addition to conforming 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 can develop an appraisal review on any one 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 qualified in every kind of appraisal review, review procedure and the requirements of review appraisers.
Premier Appraisal of SoCal understands what the biggest deficiencies are, particularly in our real estate market, as well as what makes a quality appraisal. The professionals at Premier Appraisal of SoCal are also skilled enough to realize 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 justly examine appraisal reports carried out by others. And those others may be reviewing our work, too!
In short, at Premier Appraisal of SoCal, you can be sure of our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.