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Experienced Appraisal Reviews by CJ Vigil & Associates, Inc.According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the responsibility of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at CJ Vigil & Associates, Inc., we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the procedures by which the real estate valuation is obtained guarantees independence and quality. In addition, they must indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the capacity of the appraisal assignment. The Federal Reserve states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At CJ Vigil & Associates, Inc., we are experienced in every kind of appraisal review, review process and the requirements of review appraisers.
You can count on CJ Vigil & Associates, Inc. for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered. |
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We're aware of what the most frequent report imperfections are, specifically in our home market, as well as what constitutes a quality appraisal.
The professionals at CJ Vigil & Associates, Inc. are also amply experienced to admit that the competition in our market are skillful in doing quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust CJ Vigil & Associates, Inc. to objectively examine appraisal reports carried out by others. And those others might be reviewing our work, too!