Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Dawson Appraisal Inc. provides appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's regulations.

Appraisal reviews "ought to conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions supplement regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or greater-value transactions as a method to help in detecting valuation problems."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can develop an appraisal review on any one 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 all kinds of appraisal reviews, review processes and the requirements of review appraisers.