Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisal of SoCal provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's rules.

If you need a real estate appraisal review or have questions about an appraisal, call Premier Appraisal of SoCal today.

Appraisal reviews "have to conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also show whether the appraisal or evaluation report matches the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement periodic reviews with post-funding evaluations of appraisal quality for some of their high-liability or higher-value transactions as a means to assist in discovering valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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 Premier Appraisal of SoCal, we are qualified in every kind of appraisal review, review process and the responsibilities of review appraisers.

Premier Appraisal of SoCal understands what the most prevalent defects are, specifically in our housing market, as well as what makes a quality appraisal. In the same sense, we're adequately skilled to respect that the competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly review appraisal reports executed by others. And those others could be reviewing our work, too!

In short, at Premier Appraisal of SoCal, you can rely on our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Premier Appraisal of SoCal for more information about our qualifications, expertise and services offered.