Review Appraisal Services
The Federal Reserve has recently reiterated that financial institutions must have an effective commercial real estate appraisal evaluation program. A residential or commercial review appraiser performing reviews should "have the appraisal knowledge and experience to assess compliance with the Federal Reserve Regulation 12 CFR 564.4.
We provide proven commercial appraisal review services in Orange County, Riverside County, San Diego County, Los Angeles County, San Bernardino County, and Ventura County. Our commercial review appraisers are independent, qualified, professional and assure compliance with IRS, Federal Reserve, FDIC, NCAU, OTS, and USPAP guidelines. Commercial appraisal reviews, "should determine whether the real estate under review is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Fed says. They "should also indicate whether the report is consistent with the engagement letter, which sets forth the scope of the assignment." The Fed also notes that "some banks supplement routine commercial reviews with post-funding evaluations of appraisals for quality on their higher-risk or greater-value transactions as a control to assist in detecting commercial real estate valuation problems."
Moreover, a local experienced commercial appraiser should be utilized in transactions involving commercial real estate. Additionally, designated residential and commercial review appraiser experts that are members of the Appraisal Institute are the most experienced for your appraisal review assignments.
Commercial real estate review services prepared or supervised by a designated Member of the Appraisal Institute provides you with the highest quality reporting in the industry. Appraisal Institute Members who hold the highest industry designations have the attained the necessary educational background and years of experience needed for the highest quality residential and commercial appraisal reviews.