Experienced Appraisal Reviews by Performance Appraisals Inc.
According to a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews have to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Performance Appraisals Inc. provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is collected guarantees independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for some of their high-liability or larger-value affairs as a channel to aid in addressing valuation issues."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll produce 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 are skilled in every type of appraisal review, review procedure and the obligations of review appraisers.
We are aware of what the most common weaknesses are, especially in our housing market. We also understand what makes a quality appraisal. In the same sense, we're adequately skilled to know that our competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Performance Appraisals Inc. to justly evaluate appraisal reports performed by others. And those others may be studying our work, too!
At Performance Appraisals Inc., you can have confidence in our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.