Appraisal Reviews with Northern Arizona Appraisal, Inc.

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations, look no further than Northern Arizona Appraisal, Inc..

As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for some of their higher-liability or higher-value contracts as a means to assist in detecting valuation complications."

In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will develop 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 Northern Arizona Appraisal, Inc., we are qualified in every kind of appraisal review, review practice and the responsibilities of review appraisers.