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Expert Appraisal Reviews by Jamestown C.A.R.E.S. LLCAs 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 preparing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Jamestown C.A.R.E.S. LLC provides appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's rules.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the actions by which the property valuation is acquired ensures independence and quality. They must also announce whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the extent of the appraisal assignment. Lastly, the Fed notes 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 conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can formulate 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 Jamestown C.A.R.E.S. LLC, we are experienced in all types of appraisal reviews, review practices and the obligations of review appraisers.
You can rely on Jamestown C.A.R.E.S. LLC for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered. |
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Jamestown C.A.R.E.S. LLC knows what represents a quality appraisal and what the greatest imperfections are, specifically when it comes to our local real estate market.
The professionals at Jamestown C.A.R.E.S. LLC are also trained enough to recognize that our competitors in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively valuate appraisal reports executed by others. And those others may be reviewing our work, too!