Quality Appraisal Reviews with P.M. Appraisals, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, expert, professional and compliant 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, contact P.M. Appraisals, Inc. today.
Appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a control to assist in identifying valuation dilemmas."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally 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 P.M. Appraisals, Inc., we're skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We're aware of what the most common deficiencies are, specifically in our real estate market, as well as what constitutes a quality appraisal. The professionals at P.M. Appraisals, Inc. are also trained enough to respect that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on P.M. Appraisals, Inc. to objectively review appraisal reports done by others. And those others might be examining our work, too!
In short, here at P.M. Appraisals, Inc., you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.