According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Dawson Appraisal Inc. provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "must determine whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "must also announce whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value dealings as a channel to aid in discovering valuation problems."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will 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 Dawson Appraisal Inc., we're experienced in every kind of appraisal review, review process and the requirements of review appraisers.
We are familiar with what the most prevalent weaknesses are, especially in our real estate market, as well as what represents a quality appraisal. We're also trained enough to respect that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to ethically valuate appraisal reports executed by others. And those others may be examining our work, too!
Here at Dawson Appraisal Inc., you can rely on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.