Experienced Appraisal Reviews with The August Group Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, contact The August Group Inc. today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is attained ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions add periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or large-value transactions as a channel to aid in discovering valuation dilemmas."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually 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. At The August Group Inc., we're qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
The August Group Inc. realizes what makes a quality appraisal and what the most frequent imperfections are, especially in our real estate market. Concurrently, we are amply trained to recognize that the competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on The August Group Inc. to lawfully examine appraisal reports performed by others. And those others could be evaluating our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can rely on The August Group Inc.. Contact us regarding our qualifications, expertise and services offered.