Qualified Appraisal Reviews by Shamrock Appraisals, Inc.

As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Shamrock Appraisals, Inc., we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "must figure out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report is true to the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment regular reviews with post-funding surveys of appraisal quality for a number of their high-risk or greater-value transactions as a control to aid in discovering valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally 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 qualified in every form of appraisal review, review procedure and the requirements of review appraisers.