Experienced Appraisal Reviews by The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at The August Group Inc., we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call The August Group Inc. today.
Appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value dealings as a means to assist in addressing valuation disputes."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can prepare 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 The August Group Inc., we're experienced in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
We understand what constitutes a quality appraisal and what the most prevalent defects are, specifically in our housing market. The professionals at The August Group Inc. are also sufficiently trained to acknowledge that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on The August Group Inc. to lawfully study appraisal reports done by others. And those others may be examining our work, too!
For professional, unbiased, ethical appraisal review services and honest judgments, you can depend on The August Group Inc.. Contact The August Group Inc. to learn more about our qualifications, expertise and service offerings.