Experienced Appraisal Reviews by Premier Appraisal of SoCal
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's rules, just contact Premier Appraisal of SoCal.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "should conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. Moreover, they "should denote whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value affairs as a method to assist in detecting valuation complications."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can 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. At Premier Appraisal of SoCal, we're experienced in every type of appraisal review, review process and the requirements of review appraisers.
We are familiar with what amounts to a quality appraisal and what the biggest weaknesses are, specifically in our real estate market. The professionals at Premier Appraisal of SoCal are also amply skilled to identify that the competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically examine appraisal reports done by others. And those others might be reviewing our work, too!
You can count on Premier Appraisal of SoCal for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.