Appraisal Reviews by JAMES JUNEAU APPRAISAL SERVICES, INCAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers producing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at JAMES JUNEAU APPRAISAL SERVICES, INC, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's rules.
The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the method by which the property valuation is accomplished ensures independence and quality. They must also announce whether the appraisal or evaluation report is true to the engagement letter, which sets forth the depth of the appraisal assignment. The Federal Reserve says 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".
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 can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At JAMES JUNEAU APPRAISAL SERVICES, INC, we're experienced in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
We are aware of what the biggest reporting defects are, particularly in our real estate market. We also understand what amounts to a quality appraisal. The professionals at JAMES JUNEAU APPRAISAL SERVICES, INC are also adequately experienced to realize that the competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to justly valuate appraisal reports performed by others. And those others could be examining our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can count on JAMES JUNEAU APPRAISAL SERVICES, INC. Contact us for more information regarding our qualifications, expertise and services offered.