Expert Appraisal Reviews by Phoenix Valuations, LLC
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's rules, look no further than Phoenix Valuations, LLC.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Phoenix Valuations, LLC today.
Appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for a number of their higher-liability or high-value contracts as a method to aid in identifying valuation problems."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can formulate 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 Phoenix Valuations, LLC, we're skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.
Phoenix Valuations, LLC knows what the greatest defects are, specifically in our home market, as well as what amounts to a quality appraisal. In this regard, we're professional enough to identify that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Phoenix Valuations, LLC to ethically study appraisal reports done by others. And those others may be studying our work, too!
In short, when you choose Phoenix Valuations, LLC, you can trust our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.