Appraisal Reviews with CMJ Appraisals & Investments LLC

As said in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at CMJ Appraisals & Investments LLC, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions supplement typical reviews with post-funding evaluations of appraisal quality for any of their higher-liability or large-value transactions as a means to aid in identifying valuation issues."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can develop 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're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.