Quality Appraisal Reviews with Premier Appraisal of SoCal
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisal of SoCal provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call Premier Appraisal of SoCal today.
Appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also says that "some financial institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their high-liability or high-value contracts as a means to help in revealing valuation problems."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 are trained in every kind of appraisal review, review procedure and the obligations of review appraisers.
Premier Appraisal of SoCal knows what the biggest imperfections are, specifically in our home market, as well as what constitutes a quality appraisal. In this regard, we're adequately skilled to recognize that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to lawfully examine appraisal reports completed by others. And those others may be studying our work, too!
You can trust Premier Appraisal of SoCal for our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Premier Appraisal of SoCal regarding our qualifications, expertise and service offerings.