Quality Appraisal Reviews with Personal Service Realty's Residential Valuation Group
According to a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Personal Service Realty's Residential Valuation Group provides appraisal review services that are unbiased, efficient, professional and in accordance 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 Personal Service Realty's Residential Valuation Group today.
As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also notes that "some banks augment periodic reviews with post-funding assessments of appraisal quality for a few of their high-liability or large-value contracts as a control to help in exposing valuation concerns."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll develop an appraisal review on any one 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're qualified in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We understand what amounts to a quality appraisal and what the biggest weaknesses are, especially in our home market. In this regard, the professionals at Personal Service Realty's Residential Valuation Group are sufficiently trained to realize that the competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically review appraisal reports done by others. And those others could be examining our work, too!
In short, at Personal Service Realty's Residential Valuation Group, you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.