As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews should "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules, look no further than Ireland Appraisal Associates, LLC.
If you have questions in reference to 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 determine whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for any of their high-risk or higher-value transactions as a way to help in detecting valuation issues."
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll develop 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 every type of appraisal review, review process and the responsibilities of review appraisers.
Ireland Appraisal Associates, LLC realizes what the most frequent defects are, specifically in our home market. We also know what makes a quality appraisal. In the same sense, the professionals at Ireland Appraisal Associates, LLC are sufficiently trained to distinguish that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Ireland Appraisal Associates, LLC to ethically review appraisal reports executed by others. And those others might be reviewing our work, too!
In short, here at Ireland Appraisal Associates, LLC, you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.