Expert Appraisal Reviews with Phoenix Valuations, LLC
As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Phoenix Valuations, LLC provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality." They "should also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or higher-value contracts as a means to aid in discovering valuation concerns."
In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Phoenix Valuations, LLC, we're trained in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We are familiar with what the biggest inadequacies are, especially in our real estate market, as well as what represents a quality appraisal. The professionals at Phoenix Valuations, LLC are also experienced enough to distinguish that the competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically examine appraisal reports done by others. And those others may be examining our work, too!
You can trust Phoenix Valuations, LLC for our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Phoenix Valuations, LLC for more information about our qualifications, expertise and service offerings.