Expert Appraisal Reviews by Performance Appraisals Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Performance Appraisals Inc. provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Performance Appraisals Inc. today.
Appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce regular reviews with post-funding assessments of appraisal quality for a few of their high-risk or greater-value dealings as a way to assist in detecting valuation issues."
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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. Here at Performance Appraisals Inc., we are experienced in every kind of appraisal review, review practice and the requirements of review appraisers.
Performance Appraisals Inc. understands what the most frequent defects are, particularly in our real estate market. We also understand what amounts to a quality appraisal. We're also adequately trained to identify that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically examine appraisal reports done by others. And those others could be reviewing our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can depend on Performance Appraisals Inc.. Contact Performance Appraisals Inc. regarding our qualifications, expertise and services offered.