Experienced Appraisal Reviews by JRW International 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 undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." JRW International Inc. provides appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the processes by which the property valuation is attained ensures independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the scope 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 coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will 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 JRW International Inc., we are skilled in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
We understand what represents a quality appraisal and what the greatest deficiencies are, specifically when it comes to our home market. Concurrently, we are experienced enough to recognize that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on JRW International Inc. to justly evaluate appraisal reports executed by others. And those others might be reviewing our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can depend on JRW International Inc.. Contact JRW International Inc. regarding our qualifications, expertise and service offerings.