Appraisal Reviews by True South Appraisals, LLC
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews must "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At True South Appraisals, LLC, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact True South Appraisals, LLC today.
Appraisal reviews "must figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some banks add regular reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value dealings as a channel to help in identifying valuation problems."
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually 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. Here at True South Appraisals, LLC, we're qualified in every form of appraisal review, review practice and the obligations of review appraisers.
True South Appraisals, LLC realizes what amounts to a quality appraisal and what the biggest deficiencies are, especially in our home market. The professionals at True South Appraisals, LLC are also skilled enough to admit that the competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust True South Appraisals, LLC to ethically study appraisal reports performed by others. And those others might be reviewing our work, too!
You can count on True South Appraisals, LLC for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact True South Appraisals, LLC for more information about our qualifications, expertise and service offerings.