Appraisal Reviews with The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's rules, look no further than The August Group Inc..
If you have questions regarding 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 "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is obtained ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or larger-value affairs as a control to aid in addressing valuation issues."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll 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. At The August Group Inc., we are experienced in every kind of appraisal review, review procedure and the obligations of review appraisers.
We understand what the most frequent weaknesses are, particularly in our real estate market. We also know what constitutes a quality appraisal. We're also amply experienced to recognize that the competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to justly evaluate appraisal reports completed by others. And those others might be studying our work, too!
In short, at The August Group Inc., you can have confidence in our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact The August Group Inc. to learn more about our qualifications, expertise and service offerings.