DANIEL I KANDEL Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." DANIEL I KANDEL provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact DANIEL I KANDEL today.
According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality." Moreover, they "should demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value contracts as a way to assist in discovering valuation issues."
In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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. At DANIEL I KANDEL, we're skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We realize what the most common inadequacies are, especially in our home market, as well as what constitutes a quality appraisal. The professionals at DANIEL I KANDEL are also trained enough to acknowledge that the competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically examine appraisal reports completed by others. And those others could be reviewing our work, too!
You can count on DANIEL I KANDEL for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.