CMJ Appraisals & Investments LLC Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." CMJ Appraisals & Investments LLC provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call us today.
The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for any of their high-liability or greater-value affairs as a method to assist in identifying valuation disputes."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can formulate 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 CMJ Appraisals & Investments LLC, we are qualified in every type of appraisal review, review practice and the obligations of review appraisers.
We understand what the most prevalent imperfections are, particularly in our real estate market, as well as what makes a quality appraisal. We're also sufficiently skilled to acknowledge that the competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust CMJ Appraisals & Investments LLC to ethically assess appraisal reports carried out by others. And those others may be evaluating our work, too!
At CMJ Appraisals & Investments LLC, you can be sure of our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.