Appraisal Reviews with South Shore Realty Advisors, Inc

According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the familiarity and skills 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 independent, expert, professional and in line with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value contracts as a means to aid in uncovering valuation problems."

In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can 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. Here at South Shore Realty Advisors, Inc, we are experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.