Experienced Appraisal Reviews by JC Reynolds Appraisals, Inc.As said 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 expectation of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at JC Reynolds Appraisals, Inc., we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules.
A review appraisal has to pursue: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the means by which the property valuation is attained guarantees independence and quality. They should also signify whether the appraisal or evaluation report is in line with the letter of engagement, which describes the range of the appraisal assignment. Lastly, the Fed 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 adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At JC Reynolds Appraisals, Inc., we are skilled in every type of appraisal review, review process and the responsibilities of review appraisers.
We are aware of what the most frequent report deficiencies are, particularly in our housing market, as well as what amounts to a quality appraisal. In this regard, we are experienced enough to respect that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust JC Reynolds Appraisals, Inc. to objectively examine appraisal reports executed by others. And those others could be examining our work, too!
You can depend on JC Reynolds Appraisals, Inc. for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact JC Reynolds Appraisals, Inc. for more information regarding our qualifications, expertise and services offered.