Experienced Appraisal Reviews with Tierney Appraisals
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Tierney Appraisals, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value affairs as a means to aid in detecting valuation dilemmas."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can produce 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 experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
Tierney Appraisals understands what constitutes a quality appraisal and what the biggest imperfections are, especially in our housing market. Concurrently, the professionals at Tierney Appraisals are sufficiently skilled to acknowledge that our competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to fairly assess appraisal reports performed by others. And those others might be reviewing our work, too!
When you choose Tierney Appraisals, you can be sure of our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Tierney Appraisals for more information regarding our qualifications, expertise and services offered.