Quality Appraisal Reviews with Premier Appraisal of SoCal

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Premier Appraisal of SoCal, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "must figure out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality." In addition, they "must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their higher-liability or large-value contracts as a channel to aid in discovering valuation disputes."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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 Premier Appraisal of SoCal, we are skilled in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.