Appraisal Reviews with The August Group Inc.
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at The August Group Inc., we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "ought to find out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is obtained ensures independence and quality." They "must also denote whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions add periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or high-value affairs as a channel to assist in revealing valuation issues."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will 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're trained in all types of appraisal reviews, review processes and the requirements of review appraisers.
We know what makes a quality appraisal and what the biggest defects are, particularly in our home market. In the same regard, we are experienced enough to admit that the competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on The August Group Inc. to justly valuate appraisal reports executed by others. And those others may be evaluating our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on The August Group Inc.. Contact us for more information regarding our qualifications, expertise and services offered.