Experienced Appraisal Reviews by P.M. Appraisals, Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." P.M. Appraisals, Inc. provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality." They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or larger-value contracts as a means to aid in identifying valuation problems."
In addition to tailoring 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 will develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At P.M. Appraisals, Inc., we're experienced in every type of appraisal review, review process and the responsibilities of review appraisers.
We understand what makes a quality appraisal and what the most prevalent inadequacies are, especially in our home market. In this regard, we are skilled enough to identify that the competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on P.M. Appraisals, Inc. to lawfully study appraisal reports carried out by others. And those others might be evaluating our work, too!
You can depend on P.M. Appraisals, Inc. for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.