|
TrueValue I, Inc. Appraisal ReviewsAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the duty of appraisers doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." TrueValue I, Inc. provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the means by which the property valuation is acquired ensures independence and quality. Moreover, they must denote whether the appraisal or evaluation report is in line with the engagement letter, which describes the extent of the appraisal assignment. The Fed states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to adapting our work to the regulations 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At TrueValue I, Inc., we're skilled in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
At TrueValue I, Inc., you can have confidence in our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered. |
|||||||||
We're aware of what the typical report defects are, specifically in our home market, as well as what amounts to a quality appraisal.
We're also sufficiently experienced to identify that the competitors in our market are skillful in doing good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on TrueValue I, Inc. to objectively assess appraisal reports carried out by others. And those others could be evaluating our work, too!