As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, look no further than The August Group Inc..
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call The August Group Inc. today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment routine reviews with post-funding assessments of appraisal quality for any of their high-liability or large-value affairs as a way to help in addressing valuation problems."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally 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. At The August Group Inc., we're skilled in every form of appraisal review, review practice and the requirements of review appraisers.
We're aware of what the most common defects are, specifically in our home market. We also know what amounts to a quality appraisal. Concurrently, we're skilled enough to recognize that our competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to objectively valuate appraisal reports carried out by others. And those others may be studying our work, too!
For professional, unbiased, ethical appraisal review services and honest judgments, you can count on The August Group Inc.. Contact The August Group Inc. to learn more about our qualifications, expertise and services offered.