Expert Appraisal Reviews by Phoenix Valuations, LLC
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Phoenix Valuations, LLC provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Phoenix Valuations, LLC today.
Appraisal reviews "should decide whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve states that "some banks add typical reviews with post-funding assessments of appraisal quality for some of their high-liability or large-value transactions as a way to help in revealing valuation issues."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will prepare 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 are experienced in every kind of appraisal review, review process and the requirements of review appraisers.
We realize what amounts to a quality appraisal and what the biggest imperfections are, particularly in our home market. We're also experienced enough to know that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully review appraisal reports done by others. And those others might be reviewing our work, too!
In short, at Phoenix Valuations, LLC, you can trust our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Phoenix Valuations, LLC for more information about our qualifications, expertise and service offerings.