Experienced Appraisal Reviews by Platinum Appraisal Co

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Platinum Appraisal Co, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. Moreover, they "should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or higher-value contracts as a control to assist in discovering valuation dilemmas."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Platinum Appraisal Co, we are skilled in every form of appraisal review, review practice and the responsibilities of review appraisers.