Expert Appraisal Reviews with Premier Appraisal of Southern California
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Premier Appraisal of Southern California, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call us today.
Appraisal reviews "must decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks augment typical reviews with post-funding assessments of appraisal quality for a few of their higher-liability or higher-value dealings as a channel to help in exposing valuation concerns."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can develop 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 Southern California, we're trained in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
Premier Appraisal of Southern California realizes what the most common inadequacies are, particularly in our real estate market. We also know what represents a quality appraisal. We're also sufficiently experienced to recognize that our competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Premier Appraisal of Southern California to ethically look over appraisal reports done by others. And those others may be studying our work, too!
You can depend on Premier Appraisal of Southern California for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.