Appraisal Reviews by The August Group Inc.

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." The August Group Inc. provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should demonstrate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for a few of their high-liability or high-value contracts as a way to help in addressing valuation problems."

In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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 trained in every form of appraisal review, review practice and the responsibilities of review appraisers.