Appraisal Reviews by Northern Arizona Appraisal, Inc.

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Northern Arizona Appraisal, Inc., we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations.

If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.

Appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or high-value dealings as a control to assist in exposing valuation issues."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Northern Arizona Appraisal, Inc., we're qualified in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.

Northern Arizona Appraisal, Inc. understands what constitutes a quality appraisal and what the biggest deficiencies are, specifically in our real estate market. We're also trained enough to realize that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Northern Arizona Appraisal, Inc. to objectively examine appraisal reports executed by others. And those others could be examining our work, too!

You can count on Northern Arizona Appraisal, Inc. for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.