Expert Appraisal Reviews by Phillips Appraisal, Inc.As said in a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews must "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations, just contact Phillips Appraisal, Inc.. If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today. Appraisal reviews "ought to conclude whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value transactions as a method to assist in exposing valuation complications." In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll develop 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 Phillips Appraisal, Inc., we are qualified in all types of appraisal reviews, review practices and the requirements of review appraisers. We know what the most prevalent imperfections are, specifically in our housing market. We also know what constitutes a quality appraisal. In the same regard, we are trained enough to admit that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Phillips Appraisal, Inc. to fairly study appraisal reports performed by others. And those others may be reviewing our work, too! For professional, fair, ethical appraisal review services and truthful judgments, you can depend on Phillips Appraisal, Inc.. Contact Phillips Appraisal, Inc. for more information regarding our qualifications, expertise and service offerings. |