Appraisal Reviews with JML Appraisal ServicesAccording to an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." JML Appraisal Services provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations. 
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact JML Appraisal Services today. According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is collected guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve notes that "some banks supplement typical reviews with post-funding evaluations of appraisal quality for any of their higher-risk or larger-value transactions as a means to assist in revealing valuation complications." In addition to adjusting 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'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at JML Appraisal Services, we're experienced in all forms of appraisal reviews, review processes and the obligations of review appraisers. We know what the greatest deficiencies are, specifically in our real estate market, as well as what represents a quality appraisal. In the same sense, we are professional enough to respect that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to lawfully look over appraisal reports performed by others. And those others could be examining our work, too! You can rely on JML Appraisal Services for our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings. |
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