Appraisal Reviews by DANIEL I KANDEL
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews must "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines, look no further than DANIEL I KANDEL.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact DANIEL I KANDEL today.
According to the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment routine reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or higher-value affairs as a method to assist in exposing valuation complications."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can develop 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 DANIEL I KANDEL, we're qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are familiar with what the biggest inadequacies are, especially in our real estate market, as well as what represents a quality appraisal. The professionals at DANIEL I KANDEL are also trained enough to distinguish that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on DANIEL I KANDEL to justly valuate appraisal reports completed by others. And those others might be reviewing our work, too!
At DANIEL I KANDEL, you can have confidence in our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.