Appraisal Reviews by Ireland Appraisal Associates, LLC
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews must "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Ireland Appraisal Associates, LLC, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or large-value dealings as a means to aid in uncovering valuation disputes."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will prepare an appraisal review on any 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 all types of appraisal reviews, review practices and the responsibilities of review appraisers.
Ireland Appraisal Associates, LLC is aware of what the greatest weaknesses are, particularly in our real estate market, as well as what represents a quality appraisal. In the same regard, the professionals at Ireland Appraisal Associates, LLC are adequately experienced to know that the competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to justly valuate appraisal reports executed by others. And those others could be studying our work, too!
At Ireland Appraisal Associates, LLC, you can trust our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.