Expert Appraisal Reviews with Premier Appraisal of SoCal
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines, contact Premier Appraisal of SoCal.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions supplement typical reviews with post-funding evaluations of appraisal quality for any of their higher-liability or large-value transactions as a method to help in exposing valuation issues."
In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will produce 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 SoCal, we're experienced in every form of appraisal review, review procedure and the requirements of review appraisers.
We understand what the biggest inadequacies are, particularly in our housing market. We also understand what constitutes a quality appraisal. We're also experienced enough to recognize that our competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to justly assess appraisal reports carried out by others. And those others might be reviewing our work, too!
In short, when you choose Premier Appraisal of SoCal, you can have confidence in our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.