Premier Appraisal of SoCal Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Premier Appraisal of SoCal provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions supplement regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or high-value transactions as a control to assist in discovering valuation complications."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll formulate an appraisal review on any 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 forms of appraisal reviews, review processes and the requirements of review appraisers.
Premier Appraisal of SoCal knows what the biggest weaknesses are, particularly in our housing market, as well as what makes a quality appraisal. The professionals at Premier Appraisal of SoCal are also skilled enough to acknowledge that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly look over appraisal reports carried out by others. And those others may be reviewing our work, too!
You can rely on Premier Appraisal of SoCal for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.