Quality Appraisal Reviews by Premier Appraisals, Inc.

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisals, Inc. provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also says that "some institutions augment regular reviews with post-funding assessments of appraisal quality for some of their high-liability or larger-value affairs as a way to assist in discovering valuation complications."

In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically 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 Premier Appraisals, Inc., we're skilled in all types of appraisal reviews, review practices and the responsibilities of review appraisers.