Quality Appraisal Reviews with CMJ Appraisals & Investments LLC

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews ought to "have the familiarity and expertise 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 compliant with the Federal Reserve's regulations.

Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "should also show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce periodic reviews with post-funding assessments of appraisal quality for any of their higher-liability or high-value affairs as a control to help in detecting valuation concerns."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 are qualified in every type of appraisal review, review practice and the responsibilities of review appraisers.