Appraisal Reviews with Phoenix Valuations, LLC
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Phoenix Valuations, LLC provides appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, contact Phoenix Valuations, LLC today.
Appraisal reviews "should determine whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some banks augment periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value affairs as a control to aid in uncovering valuation complications."
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely 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 trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
Phoenix Valuations, LLC is aware of what represents a quality appraisal and what the most prevalent weaknesses are, particularly in our real estate market. In this regard, we are trained enough to recognize that the competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Phoenix Valuations, LLC to justly evaluate appraisal reports performed by others. And those others may be studying our work, too!
In short, here at Phoenix Valuations, LLC, you can have confidence in our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.