Pierce Appraisal Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Pierce Appraisal provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement regular reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value dealings as a method to help in revealing valuation dilemmas."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Pierce Appraisal, we are skilled in every type of appraisal review, review practice and the requirements of review appraisers.
We are familiar with what the most frequent weaknesses are, specifically in our housing market, as well as what amounts to a quality appraisal. We're also sufficiently trained to admit that the competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly assess appraisal reports carried out by others. And those others may be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can rely on Pierce Appraisal. Contact Pierce Appraisal regarding our qualifications, expertise and services offered.