Appraisal Reviews by Saxton Appraisals, Inc.

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "should determine whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "should also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions add routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or larger-value transactions as a control to assist in uncovering valuation disputes."

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 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. At Saxton Appraisals, Inc., we are skilled in every form of appraisal review, review procedure and the obligations of review appraisers.