Experienced Appraisal Reviews with The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are objective, expert, 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 in reference to an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for some of their higher-risk or larger-value affairs as a means to assist in uncovering valuation issues."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally 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. Here at The August Group Inc., we are trained in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
We are familiar with what the most common inadequacies are, specifically in our real estate market. We also understand what constitutes a quality appraisal. The professionals at The August Group Inc. are also sufficiently skilled to respect that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to justly review appraisal reports done by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on The August Group Inc.. Contact us for more information about our qualifications, expertise and services offered.