Phoenix Valuations, LLC Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's regulations, just contact Phoenix Valuations, LLC.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Phoenix Valuations, LLC today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for any of their high-liability or large-value transactions as a way to help in exposing valuation problems."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Phoenix Valuations, LLC, we are qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.
We're aware of what constitutes a quality appraisal and what the biggest weaknesses are, particularly in our home market. In this regard, we're adequately experienced to respect that our competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully review appraisal reports completed by others. And those others might be reviewing our work, too!
Here at Phoenix Valuations, LLC, you can have confidence in our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Phoenix Valuations, LLC for more information regarding our qualifications, expertise and services offered.