As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." The August Group Inc. provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is even with the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for any of their higher-liability or higher-value affairs as a control to assist in addressing valuation dilemmas."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will develop 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 experienced in all types of appraisal reviews, review practices and the obligations of review appraisers.
The August Group Inc. knows what the most prevalent deficiencies are, particularly in our home market, as well as what represents a quality appraisal. In the same regard, we're experienced enough to recognize that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly valuate appraisal reports completed by others. And those others might be evaluating our work, too!
In short, when you choose The August Group Inc., you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.