Quality Appraisal Reviews by P.M. Appraisals, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's rules, just contact P.M. Appraisals, Inc..
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call P.M. Appraisals, Inc. today.
Appraisal reviews "have to verify whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or large-value contracts as a control to assist in revealing valuation problems."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will formulate 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're trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We know what the most frequent deficiencies are, particularly in our real estate market, as well as what represents a quality appraisal. Concurrently, we are experienced enough to identify that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on P.M. Appraisals, Inc. to fairly review appraisal reports done by others. And those others might be evaluating our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can count on P.M. Appraisals, Inc.. Contact us to learn more about our qualifications, expertise and service offerings.