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Savvy Appraisal Reviews by John A Dunlap, LLC.As said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the call of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At John A Dunlap, LLC., we provide appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's rules.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the manner by which the real estate valuation is acquired guarantees independence and quality. Moreover, they should signify whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment. Lastly, the Federal Reserve also states 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 coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 John A Dunlap, LLC., we are experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
In short, here at John A Dunlap, LLC., you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings. |
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We understand what constitutes a quality appraisal and what the biggest errors are, specifically when it comes to our home market.
In the same regard, we're professional enough to respect that the competition in our market are qualified to do a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on John A Dunlap, LLC. to ethically assess appraisal reports completed by others. And those others may be evaluating our work, too!