Appraisal Reviews with Ireland Appraisal Associates, LLC

As said in a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Ireland Appraisal Associates, LLC provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "should figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is collected guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement typical reviews with post-funding surveys of appraisal quality for some of their higher-risk or large-value transactions as a means to help in uncovering valuation problems."

In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will produce 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're qualified in every type of appraisal review, review procedure and the responsibilities of review appraisers.