Expert Appraisal Reviews by PSM Appraisals, LLC
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at PSM Appraisals, LLC, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some banks augment periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or greater-value contracts as a way to aid in uncovering valuation disputes."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will formulate 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 PSM Appraisals, LLC, we are qualified in every kind of appraisal review, review process and the responsibilities of review appraisers.
We understand what the greatest imperfections are, specifically in our housing market. We also understand what amounts to a quality appraisal. Concurrently, we are experienced enough to admit that our competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on PSM Appraisals, LLC to ethically valuate appraisal reports done by others. And those others may be evaluating our work, too!
At PSM Appraisals, LLC, you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact PSM Appraisals, LLC for more information about our qualifications, expertise and service offerings.