Appraisal Reviews with P.M. Appraisals, Inc.
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews should "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At P.M. Appraisals, Inc., we provide appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call P.M. Appraisals, Inc. today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "must also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." The Federal Reserve also says that "some financial institutions supplement periodic reviews with post-funding evaluations of appraisal quality for any of their high-liability or large-value transactions as a method to help in discovering valuation issues."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at P.M. Appraisals, Inc., we are qualified in every form of appraisal review, review procedure and the requirements of review appraisers.
We are familiar with what the most common defects are, specifically in our real estate market, as well as what makes a quality appraisal. We're also sufficiently skilled to recognize that our competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on P.M. Appraisals, Inc. to justly review appraisal reports done by others. And those others may be studying our work, too!
Here at P.M. Appraisals, Inc., you can be sure of our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact P.M. Appraisals, Inc. for more information regarding our qualifications, expertise and services offered.