Quality Appraisal Reviews by DANIEL I KANDEL
According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." DANIEL I KANDEL provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call DANIEL I KANDEL today.
Appraisal reviews "should conclude whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "should also announce whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for a number of their high-risk or larger-value contracts as a method to aid in detecting valuation disputes."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can produce 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 experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We understand what the biggest imperfections are, specifically in our home market, as well as what amounts to a quality appraisal. At the same time, we are trained enough to identify that the competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on DANIEL I KANDEL to ethically review appraisal reports executed by others. And those others could be evaluating our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can count on DANIEL I KANDEL. Contact us to learn more about our qualifications, expertise and services offered.