Finance
A New York lender's 'appraisal review' process is used to:
AAllow the lender to change the appraised value at will
BVerify that the appraisal was conducted competently and that the value conclusion is supported by the data✓ Correct
CDetermine the property's tax assessment
DSet the mortgage interest rate
Explanation
Lender appraisal reviews (desk reviews, field reviews) are used to verify the appraiser's competency, compliance with USPAP and lender guidelines, and the adequacy of the supporting data and analysis before underwriting the loan.
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