Expert Appraisal Reviews with Personal Service Realty's Residential Valuation Group
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews ought to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Personal Service Realty's Residential Valuation Group, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, call Personal Service Realty's Residential Valuation Group today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality." They "should also announce whether the appraisal or evaluation report is even with the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve says that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for any of their higher-liability or large-value transactions as a channel to help in discovering valuation dilemmas."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will prepare 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 Personal Service Realty's Residential Valuation Group, we are skilled in every kind of appraisal review, review process and the obligations of review appraisers.
Personal Service Realty's Residential Valuation Group is aware of what the greatest inadequacies are, especially in our home market, as well as what makes a quality appraisal. The professionals at Personal Service Realty's Residential Valuation Group are also experienced enough to know that the competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Personal Service Realty's Residential Valuation Group to ethically examine appraisal reports carried out by others. And those others may be reviewing our work, too!
You can depend on Personal Service Realty's Residential Valuation Group for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.