Appraisal Reviews with Tierney Appraisals
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Tierney Appraisals provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations.
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 verify whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their high-risk or large-value affairs as a channel to assist in exposing valuation dilemmas."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can 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 Tierney Appraisals, we are skilled in every kind of appraisal review, review procedure and the requirements of review appraisers.
We are familiar with what the biggest imperfections are, particularly in our housing market. We also know what amounts to a quality appraisal. The professionals at Tierney Appraisals are also amply trained to identify that our competition in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Tierney Appraisals to objectively assess appraisal reports performed by others. And those others could be reviewing our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can depend on Tierney Appraisals. Contact Tierney Appraisals for more information about our qualifications, expertise and services offered.