Qualified Appraisal Reviews with DANIEL I KANDEL
According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews should "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at DANIEL I KANDEL, we provide appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "ought to decide whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment typical reviews with post-funding assessments of appraisal quality for a number of their higher-risk or higher-value affairs as a control to aid in uncovering valuation dilemmas."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll prepare 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 kinds of appraisal reviews, review processes and the obligations of review appraisers.
We understand what amounts to a quality appraisal and what the most common deficiencies are, specifically in our home market. In the same sense, we are professional enough to acknowledge that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust DANIEL I KANDEL to lawfully valuate appraisal reports carried out by others. And those others may be examining our work, too!
In short, here at DANIEL I KANDEL, you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.