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Skilled Appraisal Reviews with Perry & Associates, IncAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the obligation of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Perry & Associates, Inc, we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality. In addition, they should denote whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment. The Federal Reserve notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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 Perry & Associates, Inc, we are trained in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
 Perry & Associates, Inc realizes what the most prevalent report weaknesses are, specifically in our real estate market, as well as what constitutes a quality appraisal. We're also skilled enough to identify that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly examine appraisal reports executed by others. And those others may be studying our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can count on Perry & Associates, Inc. Contact Perry & Associates, Inc for more information about our qualifications, expertise and services offered.
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