Appraisal Reviews with Performance Appraisals Inc.
According to a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews ought 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 independent, expert, professional and in accordance with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Performance Appraisals Inc. today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve notes that "some banks augment regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or large-value dealings as a control to aid in discovering valuation concerns."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can develop 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're qualified in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
We are familiar with what makes a quality appraisal and what the most common imperfections are, specifically in our home market. In the same regard, we are adequately skilled to distinguish that the competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to ethically assess appraisal reports carried out by others. And those others might be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on Performance Appraisals Inc.. Contact Performance Appraisals Inc. regarding our qualifications, expertise and services offered.