Premier Appraisal of SoCal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers doing reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisal of SoCal provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality." They "should also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." The Federal Reserve also states that "some banks add regular reviews with post-funding assessments of appraisal quality for any of their high-risk or greater-value transactions as a channel to help in identifying valuation dilemmas."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will prepare 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 type of appraisal review, review process and the obligations of review appraisers.
We are aware of what the biggest defects are, particularly in our home market. We also know what makes a quality appraisal. We're also amply experienced to realize that our competition in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Premier Appraisal of SoCal to lawfully review appraisal reports completed by others. And those others might be reviewing our work, too!
At Premier Appraisal of SoCal, you can count on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Premier Appraisal of SoCal for more information regarding our qualifications, expertise and services offered.