Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Fed says.They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment."The Fed also notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Burns Appraisal Group, we are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers. 

We understand what makes a quality appraisal and what the most common deficiencies are, especially in our market area. At the same time, we are professional enough to recognize that there are competitors in our market that are capable of doing a good job also. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Burns Appraisal Group to ethically evaluate appraisal reports performed by others. Those others may be reviewing our work, too! 

In short, here at Burns Appraisal Group, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients.