Appraisal Reviews by The August Group Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's guidelines, just contact The August Group Inc..
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is acquired guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report matches the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce regular reviews with post-funding assessments of appraisal quality for a number of their high-liability or high-value contracts as a way to help in exposing valuation concerns."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will 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 qualified in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
The August Group Inc. realizes what the most frequent inadequacies are, specifically in our home market, as well as what constitutes a quality appraisal. We're also trained enough to admit that the competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on The August Group Inc. to ethically evaluate appraisal reports done by others. And those others might be reviewing our work, too!
You can depend on The August Group Inc. for our truthful 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.