According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews ought to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Shamrock Appraisals, Inc. provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
The Federal Reserve says appraisal reviews "must figure out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some banks reinforce regular reviews with post-funding surveys of appraisal quality for a number of their higher-risk or high-value dealings as a control to assist in exposing valuation concerns."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll 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 Shamrock Appraisals, Inc., we're skilled in every type of appraisal review, review practice and the responsibilities of review appraisers.
Shamrock Appraisals, Inc. is aware of what the most prevalent defects are, particularly in our real estate market, as well as what makes a quality appraisal. In the same regard, we are experienced enough to distinguish that our competitors 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 rely on Shamrock Appraisals, Inc. to justly review appraisal reports carried out by others. And those others could be examining our work, too!
In short, when you choose Shamrock Appraisals, Inc., you can trust our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Shamrock Appraisals, Inc. regarding our qualifications, expertise and service offerings.