Quality Appraisal Reviews with Dawson Appraisal and Consulting
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews have to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Dawson Appraisal and Consulting, we provide appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. In addition, they "must indicate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding assessments of appraisal quality for some of their high-liability or higher-value affairs as a method to help in revealing valuation disputes."
In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll 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 Dawson Appraisal and Consulting, we're qualified in all types of appraisal reviews, review practices and the requirements of review appraisers.
We understand what the most prevalent weaknesses are, particularly in our housing market, as well as what constitutes a quality appraisal. We're also adequately trained to know that our competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Dawson Appraisal and Consulting to fairly review appraisal reports carried out by others. And those others might be evaluating our work, too!
When you choose Dawson Appraisal and Consulting, you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.