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Interagency - FDIC These procedures should include a process for qualifying an appraiser for initial placement on the list, as well as periodic monitoring of the appraiser’s performance and credentials to assess whether to retain the appraiser on the list
APPRAISALS EVALUATIONS If an institution establishes an approved appraiser list for selecting an appraiser for a particular assignment, the institution should have appropriate procedures for the development and administration of the list
SR 10-16 Attachment: Interagency Appraisal and Evaluation Guidelines These procedures should include a process for qualifying an appraiser for initial placement on the list, as well as periodic monitoring of the appraiser's performance and credentials to assess whether to retain the appraiser on the list
Appraisal Standards Flashcards | Quizlet An institution's policies and procedures for reviewing appraisals and evaluations, at a minimum, should meet the following requirements: - Address the independence, educational and training qualifications, and role of the reviewer
FAQ on Appraisal Regulations and Interagency Appraisal and Evaluation . . . Answer: As part of the credit approval process and prior to making a final credit decision, a financial institution should review appraisals and evaluations to confirm that they comply with the agencies’ appraisal regulations and the financial institution’s internal policies
FAQS - REAL ESTATE APPRAISAL REGULATIONS AND THE INTERAGENCY APPRAISAL . . . As discussed in the Valuation Guidelines, a financial institution’s appraisal policy and practices may differ by transaction type The financial institution should consider the type and complexity of the transaction when ordering appraisals, selecting appraisers, and reviewing appraisals
Final Interagency Appraisal and Evaluation Guidelines (Part 1) The institution's reporting lines for its appraisal and evaluation program – including the ordering, reviewing, and acceptance of appraisals and evaluations – must be independent of the loan production staff
WHAT’S NEW IN APPRAISAL REVIEW? - George R Mann The growing regulatory focus on financial institutions includes the way banks review property appraisals Recent guidelines spell out the qualifications expected of reviewers and call for institutions to perform quality-control audits
OCC 2010-42: Sound Practices for Appraisals and Evaluations . . . In response to these comments, the Guidelines confirm that appraisals obtained from other financial services institutions must comply with the Agencies’ appraisal regulations and be consistent with supervisory guidance, including the standards of independence