As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's rules, look no further than Dawson Appraisal Inc..
If you need a real estate appraisal review or have questions about an appraisal, contact Dawson Appraisal Inc. today.
Appraisal reviews "should determine whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "should also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some banks reinforce periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or large-value affairs as a way to aid in revealing valuation complications."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually 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 qualified in every type of appraisal review, review procedure and the responsibilities of review appraisers.
We are aware of what the greatest defects are, especially in our real estate market. We also understand what makes a quality appraisal. At the same time, we're skilled enough to acknowledge that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to lawfully look over appraisal reports done by others. And those others might be reviewing our work, too!
In short, at Dawson Appraisal Inc., you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Dawson Appraisal Inc. to learn more about our qualifications, expertise and service offerings.