Tierney Appraisals Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Tierney Appraisals provides appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Tierney Appraisals today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report is even with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks supplement regular reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value transactions as a method to assist in exposing valuation concerns."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Tierney Appraisals, we are trained in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
Tierney Appraisals is aware of what makes a quality appraisal and what the most common deficiencies are, specifically in our home market. The professionals at Tierney Appraisals are also trained enough to acknowledge that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Tierney Appraisals to ethically assess appraisal reports completed by others. And those others may be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can count on Tierney Appraisals. Contact us regarding our qualifications, expertise and services offered.