Quality Appraisal Reviews by Shamrock Appraisals, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Shamrock Appraisals, Inc. provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact Shamrock Appraisals, Inc. today.
Appraisal reviews "should figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement routine reviews with post-funding surveys of appraisal quality for any of their high-risk or larger-value contracts as a way to aid in exposing valuation concerns."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally 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 Shamrock Appraisals, Inc., we're skilled in every type of appraisal review, review procedure and the obligations of review appraisers.
Shamrock Appraisals, Inc. knows what constitutes a quality appraisal and what the greatest inadequacies are, specifically in our home market. In the same regard, we're trained enough to acknowledge that the competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly review appraisal reports done by others. And those others may be examining our work, too!
You can depend on Shamrock Appraisals, Inc. for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Shamrock Appraisals, Inc. for more information about our qualifications, expertise and service offerings.