Quality Appraisal Reviews with The August Group Inc.
According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." The August Group Inc. provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, call The August Group Inc. today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for any of their high-risk or greater-value dealings as a control to help in exposing valuation concerns."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can formulate 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 experienced in every form of appraisal review, review practice and the requirements of review appraisers.
The August Group Inc. knows what the most frequent deficiencies are, specifically in our real estate market, as well as what constitutes a quality appraisal. The professionals at The August Group Inc. are also skilled enough to acknowledge that the competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to fairly review appraisal reports performed by others. And those others might be evaluating our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can depend on The August Group Inc.. Contact The August Group Inc. to learn more about our qualifications, expertise and service offerings.