P.M. Appraisals, Inc. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations, look no further than P.M. Appraisals, Inc..
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also notes that "some banks add typical reviews with post-funding surveys of appraisal quality for some of their higher-liability or greater-value contracts as a means to aid in uncovering valuation issues."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically 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 qualified in every form of appraisal review, review practice and the obligations of review appraisers.
We are familiar with what represents a quality appraisal and what the most common weaknesses are, particularly in our real estate market. In the same regard, we are professional enough to identify that our competition in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly evaluate appraisal reports carried out by others. And those others may be studying our work, too!
In short, here at P.M. Appraisals, Inc., you can rely on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.