Appraisal Reviews with The August Group Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality." In addition, they "must indicate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for some of their high-liability or high-value transactions as a way to assist in addressing valuation complications."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can prepare 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 all kinds of appraisal reviews, review processes and the obligations of review appraisers.
The August Group Inc. knows what constitutes a quality appraisal and what the greatest defects are, particularly in our home market. We're also sufficiently experienced to acknowledge that our competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to objectively valuate appraisal reports carried out by others. And those others could be evaluating our work, too!
At The August Group Inc., you can have confidence in our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.