Experienced Appraisal Reviews by Tierney Appraisals

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Tierney Appraisals, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's regulations.

Appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. Moreover, they "must indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement typical reviews with post-funding assessments of appraisal quality for any of their high-liability or large-value dealings as a means to assist in identifying valuation problems."

In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll formulate 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 experienced in all types of appraisal reviews, review practices and the requirements of review appraisers.