Quality Appraisal Reviews with Ireland Appraisal Associates, LLC
According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews must "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Ireland Appraisal Associates, LLC, we provide appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Ireland Appraisal Associates, LLC today.
Appraisal reviews "should find out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce regular reviews with post-funding evaluations of appraisal quality for a few of their high-risk or large-value dealings as a means to help in detecting valuation dilemmas."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Ireland Appraisal Associates, LLC, we are skilled in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what the most frequent weaknesses are, especially in our home market, as well as what amounts to a quality appraisal. In the same sense, we're experienced enough to distinguish that the competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to objectively assess appraisal reports done by others. And those others could be examining our work, too!
When you choose Ireland Appraisal Associates, LLC, you can count on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.