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.

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.