Expert Appraisal Reviews with Southern Star Real Estate Services

According to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Southern Star Real Estate Services provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. In addition, they "should demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some banks add routine reviews with post-funding assessments of appraisal quality for any of their high-liability or higher-value dealings as a way to help in identifying valuation concerns."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Southern Star Real Estate Services, we're qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.