Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's guidelines, look no further than Premier Appraisal of SoCal.

Appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "must also announce 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 says that "some financial institutions supplement routine reviews with post-funding evaluations of appraisal quality for any of their higher-liability or larger-value affairs as a way to aid in revealing valuation complications."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can prepare an appraisal review on any one 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 experienced in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.