Qualified Appraisal Reviews by Ireland Appraisal Associates, LLC
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Ireland Appraisal Associates, LLC provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call Ireland Appraisal Associates, LLC today.
According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality." Moreover, they "must show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement regular reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value transactions as a control to help in discovering valuation disputes."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can produce 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're skilled in all forms of appraisal reviews, review processes and the obligations of review appraisers.
Ireland Appraisal Associates, LLC realizes what constitutes a quality appraisal and what the biggest weaknesses are, especially in our housing market. In the same sense, we are proficient enough to respect that our competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly valuate appraisal reports performed by others. And those others could be examining our work, too!
In short, when you choose Ireland Appraisal Associates, LLC, you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Ireland Appraisal Associates, LLC for more information about our qualifications, expertise and service offerings.