Appraisal Reviews by PSM Appraisals, LLC

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at PSM Appraisals, LLC, we provide appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's regulations.

If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call PSM Appraisals, LLC today.

Appraisal reviews "must verify whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a channel to aid in uncovering valuation concerns."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At PSM Appraisals, LLC, we are qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.

We understand what the most common inadequacies are, particularly in our real estate market, as well as what constitutes a quality appraisal. The professionals at PSM Appraisals, LLC are also trained enough to distinguish that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to objectively review appraisal reports performed by others. And those others may be reviewing our work, too!

You can depend on PSM Appraisals, LLC for our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.