Expert Appraisal Reviews with Premier Appraisal of SoCal
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Premier Appraisal of SoCal, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Premier Appraisal of SoCal today.
Appraisal reviews "must verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also states that "some banks reinforce regular reviews with post-funding assessments of appraisal quality for a few of their high-liability or high-value dealings as a control to assist in addressing valuation problems."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely 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 all types of appraisal reviews, review practices and the requirements of review appraisers.
We're aware of what the biggest deficiencies are, especially in our home market. We also understand what makes a quality appraisal. In the same sense, we're amply skilled to recognize that our competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to justly assess appraisal reports done by others. And those others could be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can rely on Premier Appraisal of SoCal. Contact Premier Appraisal of SoCal for more information regarding our qualifications, expertise and service offerings.