Dawson Appraisal Inc. Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Dawson Appraisal Inc. provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.
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 "have to find out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. In addition, they "must show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value dealings as a method to aid in revealing valuation issues."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll prepare 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 are trained in every type of appraisal review, review practice and the obligations of review appraisers.
We're aware of what the biggest inadequacies are, particularly in our real estate market, as well as what constitutes a quality appraisal. At the same time, we are sufficiently experienced to realize that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically evaluate appraisal reports done by others. And those others may be reviewing our work, too!
In short, at Dawson Appraisal Inc., you can rely on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Dawson Appraisal Inc. to learn more about our qualifications, expertise and services offered.