Appraisal Reviews with Ireland Appraisal Associates, LLC
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Ireland Appraisal Associates, LLC provides appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is collected guarantees independence and quality." In addition, they "should announce whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some banks add routine reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value contracts as a way to help in discovering valuation issues."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can develop an appraisal review on any one 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 trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what the most common defects are, specifically in our home market. We also understand what represents a quality appraisal. In the same regard, the professionals at Ireland Appraisal Associates, LLC are adequately trained to admit that our competition in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically assess appraisal reports performed by others. And those others might be studying our work, too!
In short, at Ireland Appraisal Associates, LLC, you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Ireland Appraisal Associates, LLC regarding our qualifications, expertise and service offerings.