Quality Appraisal Reviews with All South Appraisals

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." All South Appraisals provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's regulations.

Appraisal reviews "must conclude whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their high-liability or larger-value affairs as a method to aid in discovering valuation complications."

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At All South Appraisals, we are experienced in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.