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Skilled Appraisal Reviews with David Carlson & Associates Inc.According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the duty of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at David Carlson & Associates Inc., we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the practices by which the property valuation is attained ensures independence and quality. They should also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the reach of the appraisal assignment. The Fed also notes 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".
In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can 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. At David Carlson & Associates Inc., we're trained in every type of appraisal review, review practice and the requirements of review appraisers.
Here at David Carlson & Associates Inc., you can be sure of our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings. |
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We realize what represents a quality appraisal and what the most common inadequacies are, specifically in our local real estate market.
Concurrently, we're proficient enough to know that our competition in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically review appraisal reports done by others. And those others may be reviewing our work, too!