Appraisal Reviews by Southern Star Real Estate Services

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Southern Star Real Estate Services, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "must conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should show whether the appraisal or evaluation report is even with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for any of their high-risk or large-value contracts as a way to assist in identifying valuation issues."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll formulate an appraisal review on any 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 responsibilities of review appraisers.