Appraisal Reviews by Phoenix Valuations, LLC
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Phoenix Valuations, LLC provides appraisal review services that are independent, qualified, professional and in line 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 decide whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for any of their high-liability or larger-value dealings as a way to assist in discovering valuation dilemmas."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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 are experienced in every type of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what the most frequent imperfections are, especially in our home market, as well as what amounts to a quality appraisal. We're also experienced enough to admit that our competition 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 objectively look over appraisal reports executed by others. And those others might be reviewing our work, too!
In short, when you choose Phoenix Valuations, LLC, you can have confidence in our truthful 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.