Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Tierney Appraisals, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's regulations.

If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.

Appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." The Federal Reserve also notes that "some banks augment routine reviews with post-funding assessments of appraisal quality for a few of their high-risk or greater-value affairs as a means to assist in exposing valuation concerns."

In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will 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're experienced in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.

Tierney Appraisals understands what the most prevalent weaknesses are, specifically in our home market, as well as what amounts to a quality appraisal. The professionals at Tierney Appraisals are also experienced enough to know that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to objectively examine appraisal reports carried out by others. And those others may be reviewing our work, too!

In short, at Tierney Appraisals, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Tierney Appraisals for more information about our qualifications, expertise and services offered.