Premier Appraisals, Inc. Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Premier Appraisals, Inc. provides appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's regulations.

Appraisal reviews "should conclude whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. They "should also show whether the appraisal or evaluation report is true to the letter of engagement, which describes the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce regular reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value contracts as a way to aid in identifying valuation disputes."

In addition to adjusting 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 can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Premier Appraisals, Inc., we are trained in every form of appraisal review, review procedure and the requirements of review appraisers.