Appraisal Reviews with Phoenix Valuations, LLC
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Phoenix Valuations, LLC, we provide appraisal review services that are impartial, 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, contact Phoenix Valuations, LLC today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. In addition, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce typical reviews with post-funding assessments of appraisal quality for a number of their higher-liability or large-value transactions as a channel to aid in revealing valuation issues."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will 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. At Phoenix Valuations, LLC, we are skilled in every kind of appraisal review, review process and the requirements of review appraisers.
We are familiar with what amounts to a quality appraisal and what the most prevalent deficiencies are, particularly in our home market. At the same time, the professionals at Phoenix Valuations, LLC are amply experienced to recognize that the competitors in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Phoenix Valuations, LLC to lawfully study appraisal reports performed by others. And those others could be examining our work, too!
In short, when you choose Phoenix Valuations, LLC, you can have confidence in our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Phoenix Valuations, LLC regarding our qualifications, expertise and service offerings.