Quality Appraisal Reviews by Ireland Appraisal Associates, LLC
As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Ireland Appraisal Associates, LLC provides appraisal review services that are impartial, qualified, professional and in accordance 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.
As stated by the Federal Reserve, appraisal reviews "ought to find out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for some of their high-liability or large-value transactions as a means to help in detecting valuation complications."
In addition to tailoring 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 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.
We realize what the biggest inadequacies are, particularly in our housing market, as well as what constitutes a quality appraisal. In this regard, we are proficient enough to recognize that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Ireland Appraisal Associates, LLC to objectively assess appraisal reports executed by others. And those others could be reviewing our work, too!
You can count on Ireland Appraisal Associates, LLC for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Ireland Appraisal Associates, LLC for more information regarding our qualifications, expertise and service offerings.