Expert Appraisal Reviews with Performance Appraisals Inc.
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Performance Appraisals Inc. provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. In addition, they "must demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value dealings as a channel to help in detecting valuation problems."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely 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 Performance Appraisals Inc., we are experienced in every form of appraisal review, review practice and the requirements of review appraisers.
We are aware of what makes a quality appraisal and what the most prevalent defects are, particularly in our home market. We're also experienced enough to distinguish that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Performance Appraisals Inc. to ethically valuate appraisal reports completed by others. And those others might be studying our work, too!
At Performance Appraisals Inc., you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.