Qualified Appraisal Reviews with The August Group Inc.
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews ought to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, contact The August Group Inc..
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should verify whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must demonstrate whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also states that "some banks supplement routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or high-value dealings as a way to aid in addressing valuation complications."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will formulate 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're qualified in every kind of appraisal review, review practice and the obligations of review appraisers.
The August Group Inc. is aware of what the most common defects are, especially in our real estate market. We also know what makes a quality appraisal. The professionals at The August Group Inc. are also experienced enough to acknowledge that our competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly review appraisal reports performed by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on The August Group Inc.. Contact The August Group Inc. to learn more about our qualifications, expertise and services offered.