DANIEL I KANDEL Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews should "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At DANIEL I KANDEL, we provide appraisal review services that are independent, 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 us today.
Appraisal reviews "have to decide whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions reinforce typical reviews with post-funding assessments of appraisal quality for any of their higher-liability or high-value contracts as a way to aid in detecting valuation complications."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll develop 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're trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We're aware of what the most common weaknesses are, especially in our home market, as well as what makes a quality appraisal. In the same regard, we're skilled enough to respect that the competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully valuate appraisal reports executed by others. And those others may be studying our work, too!
When you choose DANIEL I KANDEL, you can have confidence in our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact DANIEL I KANDEL for more information about our qualifications, expertise and services offered.