Appraisal Reviews by Ireland Appraisal Associates, LLC
According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews must "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations, just contact Ireland Appraisal Associates, LLC.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "should denote whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce routine reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value transactions as a means to assist in revealing valuation concerns."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will prepare 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 trained in every form of appraisal review, review procedure and the obligations of review appraisers.
We're aware of what the most frequent imperfections are, especially in our real estate market, as well as what amounts to a quality appraisal. In the same regard, we're sufficiently trained to recognize that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Ireland Appraisal Associates, LLC to ethically look over appraisal reports performed by others. And those others might be studying our work, too!
At Ireland Appraisal Associates, LLC, you can count on our truthful 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.