Michael J. Ganguzza Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews ought to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Michael J. Ganguzza, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is acquired ensures independence and quality." They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or greater-value contracts as a channel to aid in detecting valuation problems."

In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely 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. At Michael J. Ganguzza, we are trained in every kind of appraisal review, review practice and the responsibilities of review appraisers.