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Premier Appraisal Services, LLC Appraisal ReviewsAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the responsibility of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Premier Appraisal Services, LLC, we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations.A review appraisal should verify: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the actions by which the real estate valuation is attained ensures independence and quality. Moreover, they must signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment. The Fed also states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will 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. Here at Premier Appraisal Services, LLC, we are trained in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
In short, here at Premier Appraisal Services, LLC, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered. |
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Premier Appraisal Services, LLC is aware of what represents a quality appraisal and what the biggest inadequacies are, specifically in our local housing market.
We're also sufficiently skilled to realize that our competition in our market are capable of doing good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to ethically examine appraisal reports executed by others. And those others may be studying our work, too!