Appraisal Reviews with B. Burks & Associates

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at B. Burks & Associates, we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report is compatible with the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for any of their higher-risk or high-value contracts as a means to assist in identifying valuation issues."

In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally 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. Here at B. Burks & Associates, we are qualified in every type of appraisal review, review process and the requirements of review appraisers.