Expert Appraisal Reviews with The August Group Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at The August Group Inc., we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call The August Group Inc. today.
As stated by the Federal Reserve, appraisal reviews "should find out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or larger-value contracts as a channel to help in uncovering valuation concerns."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll develop 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 trained in every form of appraisal review, review practice and the responsibilities of review appraisers.
We're aware of what the biggest defects are, especially in our home market. We also understand what amounts to a quality appraisal. Concurrently, we are experienced enough to respect that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically valuate appraisal reports completed by others. And those others might be reviewing our work, too!
Here at The August Group Inc., you can count on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.