Appraisal Reviews by DANIEL I KANDEL
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules, contact DANIEL I KANDEL.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should denote whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment typical reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value contracts as a control to aid in discovering valuation complications."
In addition to conforming our work to the processes and guidelines of our review customers, 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. At DANIEL I KANDEL, we're skilled in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
DANIEL I KANDEL knows what makes a quality appraisal and what the most common imperfections are, specifically in our real estate market. The professionals at DANIEL I KANDEL are also skilled enough to know that the competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly valuate appraisal reports executed by others. And those others may be reviewing our work, too!
Here at DANIEL I KANDEL, you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.