Experienced Appraisal Reviews by Phillips Appraisal, Inc.

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's rules, just contact Phillips Appraisal, Inc..

If you need a real estate appraisal review or have questions about an appraisal, contact Phillips Appraisal, Inc. today.

According to the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value affairs as a way to assist in uncovering valuation problems."

In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will 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. At Phillips Appraisal, Inc., we're qualified in every kind of appraisal review, review practice and the obligations of review appraisers.

We are aware of what the most prevalent defects are, specifically in our real estate market, as well as what makes a quality appraisal. The professionals at Phillips Appraisal, Inc. are also sufficiently experienced to respect that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Phillips Appraisal, Inc. to lawfully review appraisal reports executed by others. And those others might be reviewing our work, too!

You can depend on Phillips Appraisal, Inc. for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Phillips Appraisal, Inc. regarding our qualifications, expertise and services offered.