Appraisal Reviews by Northern Arizona Appraisal, Inc.

According to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Northern Arizona Appraisal, Inc., we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "ought to determine whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value dealings as a channel to aid in identifying valuation complications."

In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Northern Arizona Appraisal, Inc., we're qualified in every kind of appraisal review, review practice and the responsibilities of review appraisers.