Quality Appraisal Reviews with Shamrock Appraisals, Inc.

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews should "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Shamrock Appraisals, Inc. provides appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "ought to decide whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also states that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value transactions as a means to aid in discovering valuation issues."

In addition to adjusting 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 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 are skilled in every type of appraisal review, review practice and the requirements of review appraisers.