Qualified Appraisal Reviews with Dawson Appraisal Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews are obligated to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Dawson Appraisal Inc. provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Dawson Appraisal Inc. today.
As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." They "should also announce whether the appraisal or evaluation report matches the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for a few of their higher-risk or larger-value affairs as a means to aid in revealing valuation problems."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely 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. At Dawson Appraisal Inc., we are skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We know what the most frequent defects are, particularly in our home market. We also understand what constitutes a quality appraisal. Concurrently, we are experienced enough to identify that our competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly examine appraisal reports carried out by others. And those others might be evaluating our work, too!
In short, when you choose Dawson Appraisal Inc., you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.