No reason why it should-- As long as you avoid 'jpeg' compression (which I don't think anyone uses), all the compression formats for TIFF are lossless. I believe, although I can't find documentation to support this, that PSD is effectively a compressed TIFF with some Adobe specific extensions.
I'm somewhat old school on these things-- For me, TIFF is a fairly basic, multi-page raster format that supports a couple of modest, lossless compression algorithms. But that was true in 1988 when I was doing TGA files as render output from POVRay, and as soon as PNG became available, that became my single-image format of choice (lossless, decent compression, high bit depth). Also, at the time, it was a blow against the recently patented LZW compression in GIF. So while it's versatile, I'm somewhat anti TIFF for no reason other than natural contrariness.