Appraisal Reviews with Ireland Appraisal Associates, LLC
According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines, contact Ireland Appraisal Associates, LLC.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Ireland Appraisal Associates, LLC today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "must also signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a few of their high-liability or larger-value transactions as a method to aid in exposing valuation problems."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can 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 skilled in every type of appraisal review, review process and the obligations of review appraisers.
We understand what the most frequent weaknesses are, specifically in our real estate market. We also understand what makes a quality appraisal. In this regard, we're professional enough to respect that our competition in our market are capable of good work. 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 lawfully review appraisal reports completed by others. And those others could be studying our work, too!
You can depend on Ireland Appraisal Associates, LLC for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Ireland Appraisal Associates, LLC regarding our qualifications, expertise and services offered.