Experienced Appraisal Reviews by Phoenix Valuations, LLC
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Phoenix Valuations, LLC provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, call Phoenix Valuations, LLC today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce regular reviews with post-funding assessments of appraisal quality for some of their high-risk or larger-value contracts as a control to aid in uncovering valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually 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 every type of appraisal review, review procedure and the responsibilities of review appraisers.
We are aware of what the most common defects are, particularly in our housing market, as well as what amounts to a quality appraisal. The professionals at Phoenix Valuations, LLC are also skilled enough to identify that our competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically evaluate appraisal reports done by others. And those others might be evaluating our work, too!
In short, here at Phoenix Valuations, LLC, you can trust our neutral 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 services offered.