Quality Appraisal Reviews by Ireland Appraisal Associates, LLC

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews should "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Ireland Appraisal Associates, LLC provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. Moreover, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions augment regular reviews with post-funding surveys of appraisal quality for a few of their higher-risk or larger-value dealings as a channel to assist in exposing valuation disputes."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Ireland Appraisal Associates, LLC, we're qualified in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.