Expert Appraisal Reviews with Phoenix Valuations, LLC

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews have to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines, contact Phoenix Valuations, LLC.

According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "should show whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a few of their high-risk or large-value affairs as a way to help in addressing valuation dilemmas."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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. At Phoenix Valuations, LLC, we're trained in all types of appraisal reviews, review processes and the responsibilities of review appraisers.