The August Group Inc. Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." The August Group Inc. provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call The August Group Inc. today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a way to assist in uncovering valuation complications."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll produce 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 trained in all types of appraisal reviews, review processes and the requirements of review appraisers.
The August Group Inc. knows what the most prevalent weaknesses are, especially in our real estate market, as well as what constitutes a quality appraisal. The professionals at The August Group Inc. are also experienced enough to recognize that our competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust The August Group Inc. to lawfully study appraisal reports carried out by others. And those others may be evaluating our work, too!
You can depend on The August Group Inc. for our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact The August Group Inc. regarding our qualifications, expertise and service offerings.