Experienced Appraisal Reviews with Premier Appraisal of SoCal

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations, just contact Premier Appraisal of SoCal.

Appraisal reviews "must determine whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value contracts as a way to aid in uncovering valuation dilemmas."

In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will develop 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 procedures and the requirements of review appraisers.