Performance Appraisals Inc. Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Performance Appraisals Inc. provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must verify whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions augment regular reviews with post-funding surveys of appraisal quality for a number of their high-liability or high-value transactions as a method to assist in detecting valuation dilemmas."
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 will formulate an appraisal review on any 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.
We realize what the most prevalent weaknesses are, specifically in our home market. We also know what makes a quality appraisal. Concurrently, we are proficient enough 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 objectively assess appraisal reports completed by others. And those others may be evaluating our work, too!
In short, when you choose Performance Appraisals Inc., you can rely on our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.