Experienced Appraisal Reviews by Tierney Appraisals
According to a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations, look no further than Tierney Appraisals.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact Tierney Appraisals today.
Appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also states that "some banks add regular reviews with post-funding surveys of appraisal quality for some of their higher-risk or large-value transactions as a way to assist in detecting valuation issues."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can formulate an appraisal review on any one 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 all forms of appraisal reviews, review practices and the obligations of review appraisers.
We realize what the greatest defects are, especially in our real estate market, as well as what represents a quality appraisal. In this regard, we're trained enough to identify that the competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Tierney Appraisals to fairly evaluate appraisal reports executed by others. And those others might be examining our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can rely on Tierney Appraisals. Contact us for more information about our qualifications, expertise and services offered.