Expert Appraisal Reviews by PSM Appraisals, LLC

As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." PSM Appraisals, LLC provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "ought to determine whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some banks add regular reviews with post-funding assessments of appraisal quality for some of their higher-risk or high-value affairs as a way to help in exposing valuation disputes."

In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will produce 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're trained in every form of appraisal review, review practice and the obligations of review appraisers.