Information

Residential Appraisals for Mortgage Lenders


J.P. Morgan & Company has been supporting Banks and Mortgage Companies by providing high quality, timely appraisal reports since 1988. Our staff of 49 State Licensed and Certified residential appraisers, with an average of over 10 years appraisal experience, has the professionalism, knowledge and experience to help make the the appraisal portion of the mortgage lending process as straight forward and problem free as possible. Order processing, tracking and status reporting are the responsibility of J.P. Morgan & Company's professional office support personnel. By separating the functions of appraising from client interface, we have gained tremendous efficiencies. Our appraisal staff is allowed to concentrate on the completion appraisal assignments while our support personnel keep our clients abreast of all pertinent information.

Typically, a completed appraisal is forwarded to the client within 5 to 7 business days from the receipt of an order. Special RUSH orders can be submitted to the client usually within 24 to 48 hours from the date of inspection. We pride ourselves in accommodating each individual client's need for receiving information. "Soft copies" of reports can be faxed the client as soon as the report has passed through our quality review process. We can transmit completed reports either by email in Adobe PDF format , EDI, overnight shipment, or, of course, regular mail. All reports are prepared to be electronically shipped with digital mapping, sketch, photos and signatures. We recognize that in today's competitive mortgage industry, the ability to consistently rely on a professionally generated, timely appraisal report will simplify the lender's origination process, and can help enhance the lender's overall business. If you would like to receive your report in Adobe PDF format, but do not have the Adobe reader software, click the Adobe icon below to download your Adobe Reader software for free.




For Attorneys, Accountants, and Trustees


Over the past decade, our staff has accumulated the the broad range of appraisal experience necessary to offer our clients the uncompromising support they need. Whether analyzing the highest and best use of raw land, supporting a municipality for an eminent domain land taking, or preparing to be an expert witness in a complicated litigation, J.P. Morgan & Company has the experienced personnel necessary to complete a broad range of assignments over a wide and diverse territory.

• Commercial / Industrial Appraisals
• Divorce / Litigation Support / Expert Witness Testimony / Arbitration / Dispute Resolution - Our experience has shown time and again that experience COMBINED WITH proper, thorough preparation and an in-depth knowledge of the local market is the necessary formula for succeeding in in any dispute or litigation. The ability to assist you.

• Market Studies/Feasibility Analysis - Suddenly, real property has been acquired or comes available for potential alternative use. The critical question is "What can I do to maximize the return on invested capital?". That's where we can help.• Probate / Trust / Bankruptcy Support




Review Appraisal Support Services


A direct result of the high quality appraisal reports we have generated since 1988 is the demand for our review services. Our review staff has a total of 78 combined years of experience in all aspects of real estate appraising. J.P. Morgan & Company currently supports the desk and field review needs for a number of large national and regional banks including Countrywide Home Loans, Chase Manhattan Bank, Eastern Bank, LandSafe Appraisal Services and GN Mortgage Company.

Desk reviews are accomplished on FNMA Form 2006 can be completed and submitted to the client within 2 to 4 hours of receipt. Enhanced desk reviews, where the review appraiser will validate the field appraiser's information through our on-line sources of assessor and MLS information, are also completed on FNMA Form 2006 and can typically be submitted to the client within 12 to 24 hours of receipt. Field reviews involve an in-depth analysis of all information contained within the field appraiser's report. Each field review includes the review appraiser's exterior inspection of the subject property, each of the comparable properties utilized by the field appraiser, and an exterior viewing of additional properties the field reviewer may believe to provide further support to the final value conclusion. All field reviews are reported on FNMA Form 2000 and usually take 2 to 3 days to complete (special RUSH requests can usually be accommodated).




How To Cancel Your Private Mortgage Insurance (PMI)


If you purchased your home with a cash down payment of less than 20% of the purchase price, it is quite likely that your monthly mortgage payment includes an amount for private mortgage insurance (check the payment stub you receive from your bank every month). Private mortgage insurance, or PMI, is insurance coverage a borrower pays for which is designed to protect the bank or mortgage company against the possibility of incurring a loss in the event the borrower stops making the monthly mortgage payments. Because PMI reduces the lending institutions risk of loss, it has become a very useful tool enabling literally millions of people to purchase their homes with a relatively small amount of cash. Without PMI, many of these transactions would not have been possible!




PMI's Useful Life


PMI's greatest degree of usefulness to a homeowner is at the time of home purchase. After that, it's a payment homeowners would obviously like to be without. As you may have heard, it IS possible to have your PMI payments eliminated! Typically, removing PMI as a monthly obligation can be a very straight forward process. Lending institutions will usually eliminate your PMI requirement PROVIDED you meet their criteria for removal. In most instances, the minimum criteria include having achieved a level of equity of at least 20% to 25% (usually through property appreciation and / or home improvement) AND having an excellent payment history (typically no late payments within the past 12 to 24 months). To uncover your lending institution's specific PMI removal criteria, call them at the phone number which is usually included on the monthly mortgage invoice (the current institution you make payments to may be different than the one you received your loan from) and ask for a letter to be sent (emailed or faxed) to you which specifically identifies the criteria you need to meet to remove your PMI. Typically, you will be required to obtain a current market value of your home from a State Licensed or Certified Appraiser. That's where we can help!





As such, we offer a comprehensive array of appraisal services which can meet virtually any appraisal need in our market area. 

• Residential Appraisals for Mortgage Lenders
• Divorce and Litigation Support 
• Probate / Trust / Bankruptcy Support
• Expert Witness Testimony
• Private Mortgage Insurance (PMI) Removal
• Review Appraisal Support Services
• Subdivision Analysis
• Market Analysis / Feasibility Studies

Types of Appraisals

• Single Family Rent Analysis

• Vacant Land

• Field Review

• Desk Review

• Enhanced Desk Review

• Cooperative Interest Appraisals

• Partial Interest Valuation

• Life Estate Valuation

• Value of Deed Restricted Properties

We are a full service real estate appraisal company.
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JP MORGAN & COMPANY / T 781.245.0600 / F 781.246.3355 / staff@JPMORGANCO.COM

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