Quality Appraisal Reviews by Ireland Appraisal Associates, LLC
According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Ireland Appraisal Associates, LLC, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions supplement routine reviews with post-funding surveys of appraisal quality for some of their high-risk or high-value affairs as a method to aid in uncovering valuation issues."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will 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 are qualified in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what constitutes a quality appraisal and what the most frequent defects are, especially in our real estate market. At the same time, we are experienced enough to realize that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Ireland Appraisal Associates, LLC to fairly examine appraisal reports executed by others. And those others could be studying our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can rely on Ireland Appraisal Associates, LLC. Contact Ireland Appraisal Associates, LLC to learn more about our qualifications, expertise and services offered.