Appraisal Reviews with Phoenix Valuations, LLC
According to a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's rules, just contact Phoenix Valuations, LLC.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Phoenix Valuations, LLC today.
According to the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some banks reinforce regular reviews with post-funding assessments of appraisal quality for any of their high-liability or high-value contracts as a channel to aid in addressing valuation disputes."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Phoenix Valuations, LLC, we are experienced in all types of appraisal reviews, review processes and the obligations of review appraisers.
Phoenix Valuations, LLC is aware of what the greatest inadequacies are, particularly in our housing market, as well as what makes a quality appraisal. The professionals at Phoenix Valuations, LLC are also trained enough to identify that the competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Phoenix Valuations, LLC to lawfully look over appraisal reports done by others. And those others may be examining our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can count on Phoenix Valuations, LLC. Contact Phoenix Valuations, LLC for more information regarding our qualifications, expertise and service offerings.