Qualified Appraisal Reviews by Dawson Appraisal Inc.

According to an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Dawson Appraisal Inc. provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "must also signify whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their high-liability or greater-value transactions as a channel to help in addressing valuation dilemmas."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will produce 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 trained in every type of appraisal review, review process and the obligations of review appraisers.