Expert Appraisal Reviews with Jensen Appraisals IncAs 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 appraisers fulfilling reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Jensen Appraisals Inc provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's guidelines.
A review appraisal has to detect: whether the original appraisal or evaluation is appropriate for the transaction, the exposure inherit in the transaction, and whether the practices by which the property valuation is obtained guarantees independence and quality. Moreover, they should demonstrate whether the appraisal or evaluation report is in line with the letter of engagement, which describes the scope of the appraisal assignment. The Federal Reserve states 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 coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Jensen Appraisals Inc, we're experienced in every form of appraisal review, review practice and the responsibilities of review appraisers.
We understand what constitutes a quality appraisal and what the most prevalent imperfections are, particularly when it comes to our local real estate market. In this regard, the professionals at Jensen Appraisals Inc are adequately experienced to recognize that the competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Jensen Appraisals Inc to justly review appraisal reports completed by others. And those others could be examining our work, too!
You can depend on Jensen Appraisals Inc for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Jensen Appraisals Inc regarding our qualifications, expertise and services offered.