Quality Appraisal Reviews with The August Group Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are impartial, expert, professional and in line 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 need a real estate appraisal review, call The August Group Inc. today.
Appraisal reviews "should decide whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. In addition, they "must show whether the appraisal or evaluation report is even with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value affairs as a control to help in identifying valuation complications."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll develop 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 qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
The August Group Inc. understands what constitutes a quality appraisal and what the most common weaknesses are, specifically in our real estate market. In the same regard, we're adequately trained to distinguish that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on The August Group Inc. to objectively study appraisal reports executed by others. And those others may be studying our work, too!
Here at The August Group Inc., you can have confidence in our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact The August Group Inc. for more information regarding our qualifications, expertise and service offerings.