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Pierce Appraisal Services, LLC Appraisal ReviewsAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the prudent for appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Pierce Appraisal Services, LLC provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's rules.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the practices by which the property valuation is obtained ensures independence and quality. They must also show whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Fed says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to tailoring our work to the procedures 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Pierce Appraisal Services, LLC, we are qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Here at Pierce Appraisal Services, LLC, you can have confidence in our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Pierce Appraisal Services, LLC regarding our qualifications, expertise and service offerings. |
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Pierce Appraisal Services, LLC is aware of what the most likely report inadequacies are, especially in our home market, as well as what makes a quality appraisal.
In this regard, we are trained enough to realize that the competition in our market are capable of quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Pierce Appraisal Services, LLC to lawfully study appraisal reports completed by others. And those others may be studying our work, too!