Expert Appraisal Reviews with Phoenix Valuations, LLC
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers completing reviews should "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Phoenix Valuations, LLC provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality." They "should also signify whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce typical reviews with post-funding surveys of appraisal quality for a few of their higher-risk or large-value contracts as a control to aid in identifying valuation dilemmas."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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. At Phoenix Valuations, LLC, we're qualified in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We know what represents a quality appraisal and what the most prevalent imperfections are, particularly in our home market. In this regard, we are trained enough to distinguish that our competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Phoenix Valuations, LLC to ethically valuate appraisal reports performed by others. And those others may be reviewing our work, too!
You can trust Phoenix Valuations, LLC for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.