Qualified Appraisal Reviews with Northern Arizona Appraisal, Inc.

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's guidelines, just contact Northern Arizona Appraisal, Inc..

According to the Federal Reserve, appraisal reviews "must verify 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 acquired guarantees independence and quality." They "should also announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions supplement typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or high-value contracts as a means to aid in exposing valuation issues."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Northern Arizona Appraisal, Inc., we are trained in every form of appraisal review, review procedure and the responsibilities of review appraisers.