Quality Appraisal Reviews with P.M. Appraisals, Inc.
As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's rules, contact P.M. Appraisals, Inc..
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or higher-value transactions as a channel to aid in detecting valuation issues."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will develop 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 P.M. Appraisals, Inc., we are skilled in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
P.M. Appraisals, Inc. realizes what amounts to a quality appraisal and what the most prevalent defects are, specifically in our real estate market. In this regard, we are experienced enough to admit that the competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust P.M. Appraisals, Inc. to lawfully look over appraisal reports performed by others. And those others might be examining our work, too!
You can count on P.M. Appraisals, Inc. for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact P.M. Appraisals, Inc. for more information about our qualifications, expertise and services offered.