Expert Appraisal Reviews with The August Group Inc.
According to a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines, just contact The August Group Inc..
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "ought to decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value contracts as a method to assist in uncovering valuation concerns."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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 The August Group Inc., we're qualified in every form of appraisal review, review procedure and the obligations of review appraisers.
We're aware of what represents a quality appraisal and what the most common weaknesses are, especially in our housing market. Concurrently, we're professional enough to realize that the competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust The August Group Inc. to objectively study appraisal reports carried out by others. And those others may be reviewing our work, too!
At The August Group Inc., you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.