Qualified Appraisal Reviews by The August Group Inc.
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules, contact The August Group Inc..
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "must find out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. In addition, they "must announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for a few of their high-liability or large-value contracts as a means to help in addressing valuation issues."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at The August Group Inc., we are experienced in all types of appraisal reviews, review practices and the obligations of review appraisers.
The August Group Inc. understands what makes a quality appraisal and what the most common imperfections are, specifically in our real estate market. We're also amply skilled to distinguish that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to fairly valuate appraisal reports completed by others. And those others may be evaluating our work, too!
In short, at The August Group Inc., you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact The August Group Inc. regarding our qualifications, expertise and service offerings.