Shamrock Appraisals, Inc. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Shamrock Appraisals, Inc. provides appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "must show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also says that "some institutions add typical reviews with post-funding surveys of appraisal quality for some of their high-liability or larger-value contracts as a way to assist in addressing valuation complications."
In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Shamrock Appraisals, Inc., we are skilled in every type of appraisal review, review process and the obligations of review appraisers.
We understand what the most common inadequacies are, specifically in our home market. We also understand what constitutes a quality appraisal. We're also sufficiently trained to admit that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to lawfully valuate appraisal reports performed by others. And those others might be reviewing our work, too!
In short, here at Shamrock Appraisals, Inc., you can have confidence in our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Shamrock Appraisals, Inc. to learn more about our qualifications, expertise and service offerings.