Appraisal Reviews by Pyramid Appraisals, Inc.
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Pyramid Appraisals, Inc., we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is collected guarantees independence and quality." In addition, they "must announce whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks reinforce routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value contracts as a channel to help in addressing valuation dilemmas."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Pyramid Appraisals, Inc., we are experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what amounts to a quality appraisal and what the greatest imperfections are, particularly in our real estate market. The professionals at Pyramid Appraisals, Inc. are also experienced enough to identify that the competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Pyramid Appraisals, Inc. to justly review appraisal reports carried out by others. And those others may be evaluating our work, too!
In short, at Pyramid Appraisals, Inc., you can trust our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.