Qualified Appraisal Reviews with P.M. Appraisals, Inc.
According to a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At P.M. Appraisals, Inc., we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact P.M. Appraisals, Inc. today.
According to the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." They "should also denote whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement regular reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value transactions as a means to help in discovering valuation issues."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can 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. Here at P.M. Appraisals, Inc., we're qualified in every form of appraisal review, review practice and the obligations of review appraisers.
We are aware of what the most prevalent inadequacies are, particularly in our home market. We also know what amounts to a quality appraisal. At the same time, we are adequately experienced to admit that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to justly assess appraisal reports carried out by others. And those others might be studying our work, too!
In short, here at P.M. Appraisals, Inc., you can be sure of our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.