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Expert Appraisal Reviews by J.D. JoynerAs 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 prudent for appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." J.D. Joyner provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules.The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality. They should also indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the scope of the appraisal assignment. The Fed 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 adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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. Here at J.D. Joyner, we're experienced in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
You can trust J.D. Joyner for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact J.D. Joyner regarding our qualifications, expertise and service offerings. |
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J.D. Joyner understands what the most common reporting deficiencies are, particularly in our real estate market. We also know what amounts to a quality appraisal.
We're also trained enough to identify that our competitors in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust J.D. Joyner to lawfully look over appraisal reports carried out by others. And those others could be reviewing our work, too!