Appraisal Reviews by The August Group Inc.
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some banks augment routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or greater-value dealings as a means to assist in discovering valuation concerns."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely 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 qualified in every type of appraisal review, review procedure and the requirements of review appraisers.
The August Group Inc. is aware of what constitutes a quality appraisal and what the most common defects are, specifically in our housing market. In this regard, we are trained enough to identify that the competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to ethically study appraisal reports done by others. And those others may be examining our work, too!
In short, here at The August Group Inc., you can trust our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.