Appraisal Reviews by The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews have to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At The August Group Inc., we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, call The August Group Inc. today.
Appraisal reviews "must decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "must also denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value dealings as a control to help in exposing valuation complications."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll formulate 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 skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.
The August Group Inc. is aware of what the greatest imperfections are, particularly in our home market. We also understand what represents a quality appraisal. In this regard, we are professional enough to identify that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust The August Group Inc. to lawfully examine appraisal reports completed by others. And those others may be evaluating our work, too!
At The August Group Inc., you can trust our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact The August Group Inc. to learn more about our qualifications, expertise and service offerings.