Quality Appraisal Reviews by CMJ Appraisals & Investments LLC
According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews have to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." CMJ Appraisals & Investments LLC provides appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call CMJ Appraisals & Investments LLC today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality." They "should also announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve notes that "some banks augment regular reviews with post-funding evaluations of appraisal quality for any of their high-liability or larger-value dealings as a way to help in discovering valuation complications."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At CMJ Appraisals & Investments LLC, we're experienced in every type of appraisal review, review procedure and the requirements of review appraisers.
CMJ Appraisals & Investments LLC understands what the most prevalent defects are, especially in our home market. We also know what makes a quality appraisal. We're also trained enough to identify that the competitors in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly look over appraisal reports executed by others. And those others may be reviewing our work, too!
For professional, objective, ethical appraisal review services and independent judgments, you can count on CMJ Appraisals & Investments LLC. Contact us for more information regarding our qualifications, expertise and services offered.