Savvy Appraisal Reviews by JLD Evaluation, Inc.As said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the responsibility of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." JLD Evaluation, Inc. provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.
A review appraisal should find out: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the means by which the property valuation is obtained guarantees independence and quality. Moreover, they must denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment. Lastly, the Federal Reserve also 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 practices and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will 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. At JLD Evaluation, Inc., we are trained in every form of appraisal review, review process and the responsibilities of review appraisers.
We are familiar with what represents a quality appraisal and what the biggest deficiencies are, particularly in our home market. In the same regard, we're adequately trained to realize that the competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust JLD Evaluation, Inc. to lawfully assess appraisal reports carried out by others. And those others might be evaluating our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on JLD Evaluation, Inc.. Contact JLD Evaluation, Inc. for more information regarding our qualifications, expertise and service offerings.