Appraisal Reviews with South Shore Realty Advisors, Inc

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at South Shore Realty Advisors, Inc, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "have to decide whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or higher-value affairs as a method to assist in uncovering valuation disputes."

In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At South Shore Realty Advisors, Inc, we are trained in every kind of appraisal review, review process and the responsibilities of review appraisers.