Appraisal Reviews with PSM Appraisals, LLC

According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's rules, look no further than PSM Appraisals, LLC.

Appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce regular reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value dealings as a way to help in detecting valuation disputes."

In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can 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 PSM Appraisals, LLC, we're skilled in every form of appraisal review, review process and the obligations of review appraisers.