The August Group Inc. Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call The August Group Inc. today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also states that "some banks add regular reviews with post-funding surveys of appraisal quality for any of their high-liability or high-value affairs as a way to help in discovering valuation disputes."
In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll 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. At The August Group Inc., we're trained in all types of appraisal reviews, review processes and the requirements of review appraisers.
The August Group Inc. realizes what represents a quality appraisal and what the most common deficiencies are, especially in our home market. The professionals at The August Group Inc. are also sufficiently trained to realize that the competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively review appraisal reports completed by others. And those others might be examining our work, too!
You can rely on The August Group Inc. for our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.