Saxton Appraisals, Inc. Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Saxton Appraisals, Inc., we provide appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality." They "must also signify whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or higher-value transactions as a means to aid in addressing valuation concerns."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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 Saxton Appraisals, Inc., we are qualified in every type of appraisal review, review practice and the obligations of review appraisers.