Expert Appraisal Reviews with JML Appraisal Services

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." JML Appraisal Services provides appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is obtained ensures independence and quality." Moreover, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also notes that "some banks supplement routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or large-value dealings as a channel to help in detecting valuation dilemmas."

In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will produce 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 JML Appraisal Services, we're skilled in every type of appraisal review, review practice and the obligations of review appraisers.