Appraisal

REO, the abbreviation for the banking term Real Estate Owned. When a property becomes “REO,” a bank or servicer has foreclosed on a mortgage and now must sell the property. Appraising REO presents a variety of valuation challenges. Perhaps the market is troubled or the property needs repair before it can be effectively marketed. JVI began appraisal management expertise in the REO valuation space. We have developed and currently teach REO courses on "How to Appraise REO Properties".

JVI provides lenders with well supported, USPAP compliant appraisals for loan origination purposes. Compliance with appraisal independence requirements is always maintained and all valuation products are reviewed for compliance with client requirements.

The simple definition of Analytics is the science of analysis. JVI performs retrospective valuation and other forms of forensic analysis for fraud detection and other reasons. JVI employs technology, highly experienced appraisal review staff and proprietary analytical tools to provide clients with the data and analysis needed for informed business decisions.

Commercial real estate refers generally to property that is not 1-4 family residential. Commercial real estate, often referred to simply as CRE, is typically thought of as retail, industrial, office and multi-family property but may also include mixed use projects, development projects or vacant land. Appraising commercial real estate requires appraisers with a much different skill set and knowledge base than those who only appraise houses.

The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934. FHA appraisal standards are rigorous and the agency requires that its appraisers be “FHA approved.” JVI maintains a qualified panel of independent appraisers. As we have a deep understanding of FHA policies and procedures, our reviewers are well qualified to review FHA appraisal reports.

Loss mitigation is a process used by banks and loan servicers to minimize their loss on troubled or non-performing loan. When a borrower-homeowner defaults or often prior to default, the lender will typically work with them to return the loan to performing status or limit the loss if the loan is expected to proceed to foreclosure.

JVI provides a wide variety of legal support services ranging from traditional appraisal and inspection services to real estate fraud detection, portfolio analysis and, when required, expert testimony. We offer ad valorem tax counseling and valuation as well as valuation for estate planning purposes. Other services include retrospective valuation for probate and estate purposes.

JVI has a variety of risk assessment tools at its disposal for the benefit of banks, thrifts, GSEs, mortgage insurance companies, due diligence / surveillance companies and others. Mortgage insurance companies often retain JVI for retrospective analytics and valuation as well as for reconciling divergent value estimates and consultation.