Quality Appraisal Reviews with JW -AppraisalAccording to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." JW -Appraisal provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's rules. If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact JW -Appraisal today. Appraisal reviews "ought to decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add routine reviews with post-funding assessments of appraisal quality for any of their high-liability or high-value affairs as a means to help in revealing valuation concerns." In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at JW -Appraisal, we are experienced in every type of appraisal review, review practice and the responsibilities of review appraisers. JW -Appraisal understands what amounts to a quality appraisal and what the most common defects are, especially in our home market. In the same regard, the professionals at JW -Appraisal are sufficiently experienced to acknowledge that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on JW -Appraisal to justly examine appraisal reports done by others. And those others might be reviewing our work, too! You can count on JW -Appraisal for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact JW -Appraisal for more information about our qualifications, expertise and service offerings. |