Qualified Appraisal Reviews by Dawson Appraisal Inc.
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Dawson Appraisal Inc. provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality." They "should also announce whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce regular reviews with post-funding assessments of appraisal quality for any of their high-liability or large-value transactions as a method to assist in revealing valuation disputes."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate 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 qualified in every form of appraisal review, review procedure and the requirements of review appraisers.
We realize what the most frequent inadequacies are, particularly in our real estate market, as well as what constitutes a quality appraisal. We're also amply experienced to respect that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to justly examine appraisal reports done by others. And those others may be evaluating our work, too!
In short, here at Dawson Appraisal Inc., you can be sure of our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Dawson Appraisal Inc. for more information about our qualifications, expertise and service offerings.