Expert Appraisal Reviews with Premier Appraisal of SoCal
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At Premier Appraisal of SoCal, we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Premier Appraisal of SoCal today.
According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality." They "should also denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or high-value transactions as a control to help in uncovering valuation problems."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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. Here at Premier Appraisal of SoCal, we're trained in all types of appraisal reviews, review practices and the requirements of review appraisers.
We're aware of what the most common imperfections are, specifically in our real estate market, as well as what represents a quality appraisal. We're also amply trained to acknowledge that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Premier Appraisal of SoCal to fairly valuate appraisal reports completed by others. And those others may be examining our work, too!
In short, at Premier Appraisal of SoCal, you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Premier Appraisal of SoCal to learn more about our qualifications, expertise and service offerings.