Experienced Appraisal Reviews with The August Group Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." The August Group Inc. provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call us today.
Appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment periodic reviews with post-funding surveys of appraisal quality for some of their higher-liability or greater-value affairs as a means to help in identifying valuation problems."
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will develop an appraisal review on any 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 qualified in every form of appraisal review, review process and the requirements of review appraisers.
The August Group Inc. understands what the most frequent inadequacies are, specifically in our housing market. We also understand what represents a quality appraisal. We're also sufficiently trained to realize that our competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to fairly evaluate appraisal reports performed by others. And those others might be examining our work, too!
You can rely on The August Group Inc. for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.