Experienced Appraisal Reviews with JRBaskett, 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 appraisers fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." JRBaskett, Inc. provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality. The review should also show whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment. The Federal Reserve also 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 tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll 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. At JRBaskett, Inc., we are skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We realize what the most prevalent report defects are, specifically in our housing market, as well as what constitutes a quality appraisal. Concurrently, we're professional enough to distinguish that the competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on JRBaskett, Inc. to justly examine appraisal reports executed by others. And those others might be examining our work, too!
In short, at JRBaskett, Inc., you can be sure of our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact JRBaskett, Inc. to learn more about our qualifications, expertise and service offerings.