Appraisal Reviews with PSM Appraisals, LLC

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at PSM Appraisals, LLC, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality." In addition, they "must announce whether the appraisal or evaluation report is true to the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve notes that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for a few of their high-risk or high-value dealings as a way to aid in exposing valuation disputes."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll 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 PSM Appraisals, LLC, we're skilled in every form of appraisal review, review process and the requirements of review appraisers.