Shamrock Appraisals, Inc. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers completing reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At Shamrock Appraisals, Inc., we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment typical reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value dealings as a means to aid in discovering valuation issues."
In addition to tailoring our work to the processes 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. At Shamrock Appraisals, Inc., we're experienced in every type of appraisal review, review procedure and the requirements of review appraisers.
Shamrock Appraisals, Inc. knows what makes a quality appraisal and what the biggest inadequacies are, especially in our real estate market. We're also adequately experienced to respect that the competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to lawfully review appraisal reports done by others. And those others may be examining our work, too!
You can trust Shamrock Appraisals, Inc. for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.