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Skilled Appraisal Reviews with Davidson & Associates
According to a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers fulfilling reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At Davidson & Associates, we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's guidelines.
A review appraisal has to detect: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the method by which the collateral valuation is rendered ensures independence and quality.
Moreover, they must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment.
Lastly, the Fed also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
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If you need a real estate appraisal review or have questions regarding an appraisal, contact us today. |
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In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually 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 Davidson & Associates, we are qualified in every form of appraisal review, review practice and the obligations of review appraisers.
We are aware of what the most frequent reporting imperfections are, particularly in our home market. We also understand what constitutes a quality appraisal.
The professionals at Davidson & Associates are also amply skilled to identify that the competitors in our market are qualified to do a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Davidson & Associates to fairly look over appraisal reports performed by others. And those others may be studying our work, too!
Here at Davidson & Associates, you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers.
Contact Davidson & Associates for more information about our qualifications, expertise and services offered.
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