Expert Appraisal Reviews with Personal Service Realty's Residential Valuation Group
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews have to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Personal Service Realty's Residential Valuation Group provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Personal Service Realty's Residential Valuation Group today.
Appraisal reviews "must determine whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value affairs as a channel to assist in revealing valuation concerns."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 trained in every kind of appraisal review, review process and the requirements of review appraisers.
We know what the most common defects are, especially in our home market. We also understand what constitutes a quality appraisal. The professionals at Personal Service Realty's Residential Valuation Group are also sufficiently trained to recognize that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Personal Service Realty's Residential Valuation Group to justly study appraisal reports performed by others. And those others might be evaluating our work, too!
When you choose Personal Service Realty's Residential Valuation Group, you can rely on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Personal Service Realty's Residential Valuation Group for more information regarding our qualifications, expertise and service offerings.