Agencies Issue New Real Estate Appraisal and Evaluation Guidelines
The Federal Reserve Board of Governors, along with other federal financial regulators, released new guidelines on prudent real estate appraisal and evaluation practices on December 2.
The guidelines, which replace an earlier version released in 1994, incorporate recent supervisory issuances on appraisal practices as well as changes in the information technology used to value collateral. They also clarify standards for how financial institutions should use analytical methods and technological tools to develop evaluations.
Separating valuation from lending practices
Appraisals should support conclusions
The new guidelines were issued by the Board of Governors, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision, and National Credit Union Administration.
December 15, 2010