Experienced Appraisal Reviews with Personal Service Realty's Residential Valuation Group
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews should "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Personal Service Realty's Residential Valuation Group, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment typical reviews with post-funding evaluations of appraisal quality for some of their high-risk or large-value transactions as a way to assist in discovering valuation issues."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll 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 Personal Service Realty's Residential Valuation Group, we are experienced in every kind of appraisal review, review procedure and the requirements of review appraisers.
We are aware of what the greatest weaknesses are, specifically in our home market. We also know what amounts to a quality appraisal. In the same sense, we are sufficiently skilled to identify that our competition in our market are skillful in doing a fine job. 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 fairly study appraisal reports executed by others. And those others may be examining our work, too!
You can trust Personal Service Realty's Residential Valuation Group for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Personal Service Realty's Residential Valuation Group for more information about our qualifications, expertise and service offerings.