Experienced Appraisal Reviews with Ireland Appraisal Associates, LLC
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines, just contact Ireland Appraisal Associates, LLC.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. In addition, they "must demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some banks augment routine reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or larger-value dealings as a means to help in uncovering valuation complications."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can 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 Ireland Appraisal Associates, LLC, we're skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We are aware of what makes a quality appraisal and what the greatest weaknesses are, particularly in our home market. At the same time, we're experienced enough to distinguish that the competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically study appraisal reports completed by others. And those others may be studying our work, too!
Here at Ireland Appraisal Associates, LLC, you can be sure of our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Ireland Appraisal Associates, LLC for more information regarding our qualifications, expertise and service offerings.