Appraisal Reviews with Premiere Appraisals, LLC

As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules, look no further than Premiere Appraisals, LLC.

Appraisal reviews "should conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "should also signify whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement regular reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or larger-value affairs as a channel to aid in exposing valuation issues."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Premiere Appraisals, LLC, we're qualified in every type of appraisal review, review process and the obligations of review appraisers.