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Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's regulations.

If you need a real estate appraisal review or have questions regarding an appraisal, contact us today.

According to the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add regular reviews with post-funding assessments of appraisal quality for some of their high-liability or large-value contracts as a means to assist in uncovering valuation concerns."

In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll produce 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 experienced in every type of appraisal review, review practice and the obligations of review appraisers.

The August Group Inc. understands what the greatest deficiencies are, especially in our housing market, as well as what represents a quality appraisal. At the same time, we are sufficiently experienced to admit that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on The August Group Inc. to ethically look over appraisal reports completed by others. And those others could be reviewing our work, too!

At The August Group Inc., you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact The August Group Inc. regarding our qualifications, expertise and service offerings.