Experienced Appraisal Reviews by Phoenix Valuations, LLC
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules, contact Phoenix Valuations, LLC.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must find out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a few of their high-liability or high-value transactions as a way to help in identifying valuation complications."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally 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 experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
We are familiar with what the most prevalent imperfections are, especially in our real estate market. We also know what represents a quality appraisal. We're also experienced enough to acknowledge that the competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Phoenix Valuations, LLC to lawfully study appraisal reports executed by others. And those others might be studying our work, too!
In short, at Phoenix Valuations, LLC, you can count on our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Phoenix Valuations, LLC for more information regarding our qualifications, expertise and service offerings.