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Appraisal Reviews with Jensen Appraisal Service, Inc.As 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 it's the prudent for appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Jensen Appraisal Service, Inc., we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.A review appraisal has to detect: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the manner by which the real estate valuation is attained guarantees independence and quality. The review must also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the reach of the appraisal assignment. Lastly, the Federal Reserve also goes on to say 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 adjusting 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'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Jensen Appraisal Service, Inc., we're trained in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
In short, at Jensen Appraisal Service, Inc., you can rely on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered. |
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We realize what the greatest reporting defects are, particularly in our housing market. We also understand what amounts to a quality appraisal.
The professionals at Jensen Appraisal Service, Inc. are also trained enough to respect that our competition in our market are capable of doing a fine job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to ethically valuate appraisal reports executed by others. And those others might be examining our work, too!