Quality Appraisal Reviews with Premier Appraisal of SoCal

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisal of SoCal provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Premier Appraisal of SoCal today.

The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value affairs as a means to help in discovering valuation issues."

In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Premier Appraisal of SoCal, we're qualified in all types of appraisal reviews, review procedures and the requirements of review appraisers.

We realize what the biggest defects are, particularly in our home market, as well as what constitutes a quality appraisal. In this regard, we are proficient enough to realize that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Premier Appraisal of SoCal to ethically valuate appraisal reports carried out by others. And those others could be reviewing our work, too!

You can depend on Premier Appraisal of SoCal for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Premier Appraisal of SoCal for more information regarding our qualifications, expertise and service offerings.