Quality Appraisal Reviews by DANIEL I KANDEL
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers fulfilling reviews are obligated to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." At DANIEL I KANDEL, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call DANIEL I KANDEL today.
As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add typical reviews with post-funding surveys of appraisal quality for a number of their high-risk or larger-value dealings as a way to aid in detecting valuation complications."
In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At DANIEL I KANDEL, we are trained in every form of appraisal review, review procedure and the requirements of review appraisers.
We understand what constitutes a quality appraisal and what the greatest inadequacies are, particularly in our real estate market. At the same time, we are experienced enough to realize that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on DANIEL I KANDEL to ethically evaluate appraisal reports done by others. And those others could be evaluating our work, too!
For professional, objective, ethical appraisal review services and independent judgments, you can depend on DANIEL I KANDEL. Contact us to learn more about our qualifications, expertise and service offerings.