Appraisal Reviews with Dougherty & Associates, L.L.C.
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Dougherty & Associates, L.L.C. provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "ought to find out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality." In addition, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement typical reviews with post-funding evaluations of appraisal quality for any of their high-risk or higher-value dealings as a way to assist in discovering valuation complications."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Dougherty & Associates, L.L.C., we're skilled in every form of appraisal review, review practice and the responsibilities of review appraisers.
We are aware of what the most frequent imperfections are, particularly in our home market, as well as what amounts to a quality appraisal. In the same sense, the professionals at Dougherty & Associates, L.L.C. are sufficiently trained to recognize that the competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Dougherty & Associates, L.L.C. to ethically examine appraisal reports done by others. And those others might be examining our work, too!
You can count on Dougherty & Associates, L.L.C. for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.