Qualified Appraisal Reviews with Premier Appraisals, Inc.

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Premier Appraisals, Inc., we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment routine reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value dealings as a control to assist in addressing valuation concerns."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll produce 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 qualified in all types of appraisal reviews, review processes and the responsibilities of review appraisers.