As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's guidelines, just contact Tierney Appraisals.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Tierney Appraisals today.
Appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement regular reviews with post-funding evaluations of appraisal quality for some of their higher-liability or greater-value transactions as a means to assist in uncovering valuation disputes."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll produce 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 skilled in every kind of appraisal review, review procedure and the requirements of review appraisers.
Tierney Appraisals is aware of what the most frequent imperfections are, specifically in our housing market, as well as what represents a quality appraisal. The professionals at Tierney Appraisals are also trained enough to acknowledge that our competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to justly evaluate appraisal reports executed by others. And those others may be evaluating our work, too!
When you choose Tierney Appraisals, you can have confidence in our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.