Who We Are

SouthEastern Evaluation is an appraisal management company owned by an appraiser. Knowledgeable appraisers are on staff to offer you our industry expertise and experience. We can handle your business in a compliant manner and offer solutions to your valuation and procedural issues. Suggest us to your friends who are in the Mortgage, Lending, Title, REO and Real Estate Investors industries.

FHA Inspections

PLEASE note that all FHA Inspections must be completed after the FHA case number is assigned.

 

If you receive an FHA Appraisal order and the FHA case number is not attached, PLEASE DO NOT COMPLETE THE INSPECTION UNTIL YOU RECEIVE THE CASE NUMBER.   

If the inspection is completed prior to the assignment of the case number, the appraisal report is not valid for an FHA loan and will need to be reinspected.

Snow Day!

Due to inclement weather our office will be closed today.

Common Appraisal Issues & Red Flags

To start 2011 off on the right foot, we have gathered feedback from our underwriting partners on common appraisal issues and red flags. Rectifying these items will help speed your report through the underwriting process and alleviate the need for "requests for revisions."

• Make sure the legal description is accurately reflected in the appraisal
•  If a property is rural and offers a number of acres, appraiser should comment on whether the subject is a working farm
•  Provide search parameters in your commentary
• Place your best comp in the #1 sale position on the grid 
• Explain the need to use comparable sales farther from the subject
• If homes of different styles are used in the analysis, explain why this was necessary and why they are felt to be reflective of the subject
• Explanation of which comps are given greatest consideration
• Wide range of adjusted and unadjusted values
• Explain and analyze the previous sale of the subject
• Include a copy of your appraisal license  
• The more photos, the better!

Here's to a revision-free appraisal for 2011!

Appraisal Order Clarification

Payment Requirements


For all non-bill clients, a credit card authorization form signed by the borrower must be uploaded to the system when an appraisal product is ordered. Orders will NOT be placed without this signed authorization.


Please keep in mind that it is not SouthEastern's responsibility to facilitate completion of the credit card authorization form or explain product charges to your borrower. The process is quicker and more efficient when all documentation is uploaded when the order is placed. We would sincerely appreciate your assistance in this regard.


Turn Time Standards
Typical turn time expectation is 5 business days for full URAR/condo/2-4 family property appraisal reports. Please note that orders requiring a quicker turn time will need to be considered a RUSH order, with appropriate fee increase. Should you need a RUSH on an order, please make sure that this is documented in the notes section of the order itself and we will make every effort to find an appraiser who can accommodate your needs. We will alert you to the RUSH fee before final order placement for your approval. Please note that all orders not noting a RUSH requirement will be placed with a 5 business day turn time


Turn time is calculated from the point of receipt of completed and signed credit card authorization.

REASSIGNMENT OF APPRAISAL

Per USPAP, when an appraisal order is placed, a relationship is created between the parties involved. The client is identified by the appraiser in the appraisal report and is the party with whom the appraiser has an appraiser-client relationship in the related assignment. Once a report has been prepared for a named client, the appraiser cannot be “readdressed” to another party since the appraiser does not have a contractual relationship with this other party. However, an appraiser may complete a NEW assignment for this second party. This will then establish a relationship between appraiser and second lender providing all of the rights, obligations and liabilities such a relationship places on the parties involved. A new scope of work is required and an associated fee is determined.

Appraisal Portability

Appraisal portability provides that a lender may accept an appraisal prepared by an appraiser for a different lender provided the lender (1) obtains written assurances that such other lender follows appraiser independence guidelines in connection with the loan being originated and (2) determines that such appraisal conforms to its requirements for appraisals and is otherwise acceptable.  The originating lender is responsible for documenting the written assurance to the other lender.  The lender accepting the appraisal report completed for the originating lender must accept the report “as is.”  The appraiser has no contractual relationship with the second lender and is not responsible for changes requested by the second lender.