|
|
Qualified Appraisal Reviews with The Jones Group
As stated in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
it's the prudent for appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At The Jones Group, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the manner by which the collateral valuation is acquired guarantees independence and quality.
In addition, they should signify whether the appraisal or evaluation report is true to the letter of engagement, which describes the outlook of the appraisal assignment.
The Fed notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
 |
 |
 |
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today. |
|
|
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll produce 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 The Jones Group, we are qualified in all types of appraisal reviews, review processes and the requirements of review appraisers.
The Jones Group knows what amounts to a quality appraisal and what the biggest inadequacies are, particularly for reports in our local real estate market.
In the same sense, we are adequately experienced to distinguish that the competition in our market are capable of doing a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust The Jones Group to justly evaluate appraisal reports completed by others. And those others may be reviewing our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can count on The Jones Group.
Contact us for more information about our qualifications, expertise and service offerings.
|
|
