Appraisal Reviews with The August Group Inc.
As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, call us today.
According to the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is accomplished guarantees 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 banks add periodic reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value dealings as a control to help in uncovering valuation concerns."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At The August Group Inc., we're skilled in every type of appraisal review, review practice and the requirements of review appraisers.
The August Group Inc. understands what the greatest defects are, specifically in our real estate market. We also understand what makes a quality appraisal. The professionals at The August Group Inc. are also skilled enough to know that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively valuate appraisal reports completed by others. And those others could be studying our work, too!
For professional, objective, ethical appraisal review services and truthful judgments, you can depend on The August Group Inc.. Contact us regarding our qualifications, expertise and services offered.