Expert Appraisal Reviews by Precision Appraisal Group, LLC

According to a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Precision Appraisal Group, LLC provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's guidelines.

Appraisal reviews "must verify whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or higher-value dealings as a control to aid in exposing valuation dilemmas."

In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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. Here at Precision Appraisal Group, LLC, we're skilled in all forms of appraisal reviews, review practices and the obligations of review appraisers.