Qualified Appraisal Reviews with Premier Appraisal of SoCal

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisal of SoCal provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's regulations.

Appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add typical reviews with post-funding assessments of appraisal quality for a few of their higher-liability or greater-value dealings as a control to aid in exposing valuation complications."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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're qualified in every kind of appraisal review, review practice and the responsibilities of review appraisers.