JGB Appraisals LLC Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." JGB Appraisals LLC provides appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality." They "must also show whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement regular reviews with post-funding evaluations of appraisal quality for some of their higher-risk or larger-value affairs as a means to assist in identifying valuation issues."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will develop 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 JGB Appraisals LLC, we are skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.