Quality Appraisal Reviews with The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at The August Group Inc., we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, call The August Group Inc. today.
As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions supplement routine reviews with post-funding surveys of appraisal quality for a few of their high-liability or larger-value contracts as a means to assist in exposing valuation complications."
In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can 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 skilled in every type of appraisal review, review process and the requirements of review appraisers.
The August Group Inc. is aware of what represents a quality appraisal and what the most frequent imperfections are, particularly in our home market. We're also experienced enough to identify that the competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on The August Group Inc. to ethically study appraisal reports performed by others. And those others might be examining our work, too!
When you choose The August Group Inc., you can trust our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.