The August Group Inc. Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "should decide whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. Moreover, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions add routine reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value contracts as a means to aid in addressing valuation disputes."
In addition to tailoring our work to the practices 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 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're trained in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We know what the biggest weaknesses are, particularly in our housing market, as well as what constitutes a quality appraisal. We're also adequately skilled to acknowledge that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on The August Group Inc. to justly valuate appraisal reports executed by others. And those others might be studying our work, too!
In short, when you choose The August Group Inc., you can be sure of our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact The August Group Inc. to learn more about our qualifications, expertise and service offerings.