Quality Appraisal Reviews with JML Appraisal Services

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews should "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." At JML Appraisal Services, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.

If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call JML Appraisal Services today.

As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality." Moreover, they "should signify whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value transactions as a control to help in discovering valuation problems."

In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll formulate 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 qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.

We are familiar with what amounts to a quality appraisal and what the most common inadequacies are, especially in our housing market. The professionals at JML Appraisal Services are also experienced enough to respect that our competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on JML Appraisal Services to justly look over appraisal reports performed by others. And those others might be reviewing our work, too!

In short, here at JML Appraisal Services, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact JML Appraisal Services to learn more about our qualifications, expertise and services offered.

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