According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules, just contact J & A Appraisals, LLC.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions add regular reviews with post-funding assessments of appraisal quality for a few of their higher-liability or large-value transactions as a method to aid in uncovering valuation dilemmas."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally 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 J & A Appraisals, LLC, we're skilled in every form of appraisal review, review procedure and the requirements of review appraisers.
J & A Appraisals, LLC understands what the most common inadequacies are, particularly in our home market, as well as what constitutes a quality appraisal. The professionals at J & A Appraisals, LLC are also sufficiently skilled to acknowledge that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully look over appraisal reports executed by others. And those others might be reviewing our work, too!
You can trust J & A Appraisals, LLC for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact J & A Appraisals, LLC for more information about our qualifications, expertise and services offered.