According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Dawson Appraisal Inc. provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality." In addition, they "must show whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value contracts as a way to assist in revealing valuation complications."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Dawson Appraisal Inc., we're skilled in every kind of appraisal review, review practice and the responsibilities of review appraisers.
We know what makes a quality appraisal and what the greatest imperfections are, particularly in our real estate market. We're also skilled enough to realize that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly review appraisal reports performed by others. And those others might be evaluating our work, too!
In short, here at Dawson Appraisal Inc., you can rely on our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.