Quality Appraisal Reviews by Performance Appraisals Inc.
As said in a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews ought to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Performance Appraisals Inc. provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call Performance Appraisals Inc. today.
As stated by the Federal Reserve, appraisal reviews "should find out 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 collected ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or high-value affairs as a channel to help in identifying valuation problems."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will formulate 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 skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.
Performance Appraisals Inc. understands what represents a quality appraisal and what the most prevalent deficiencies are, specifically in our real estate market. The professionals at Performance Appraisals Inc. are also skilled enough to recognize that our competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to fairly review appraisal reports completed by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on Performance Appraisals Inc.. Contact us regarding our qualifications, expertise and services offered.