Experienced Appraisal Reviews with DANIEL I KANDEL
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." DANIEL I KANDEL provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact DANIEL I KANDEL today.
As stated by the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value contracts as a method to assist in addressing valuation issues."
In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 DANIEL I KANDEL, we are skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.
We know what amounts to a quality appraisal and what the most common deficiencies are, especially in our real estate market. In the same regard, we're amply trained to acknowledge that the competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully review appraisal reports completed by others. And those others might be examining our work, too!
When you choose DANIEL I KANDEL, you can have confidence in our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.