Experienced Appraisal Reviews with Az-Tech Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Az-Tech Appraisals, we provide appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "must conclude whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment regular reviews with post-funding surveys of appraisal quality for a few of their high-risk or large-value transactions as a method to help in uncovering valuation complications."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll formulate 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 Az-Tech Appraisals, we're trained in all types of appraisal reviews, review practices and the requirements of review appraisers.