Qualified Appraisal Reviews by The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their high-liability or higher-value transactions as a control to help in discovering valuation concerns."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will prepare an appraisal review on any one 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 skilled in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
The August Group Inc. is aware of what the most common deficiencies are, specifically in our real estate market. We also understand what amounts to a quality appraisal. At the same time, we are trained enough to identify that the competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to objectively study appraisal reports done by others. And those others may be reviewing our work, too!
In short, here at The August Group Inc., you can count on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.