Highlights:
The attached document
addresses common questions about the requirements of the appraisal
regulations, including:
-
Selecting an
appraiser,
-
Ordering an
appraisal,
-
Accepting a
transferred appraisal,
-
Reviewing appraisals,
and
-
Evaluation and other
appraisal topics.
It should be reviewed in
conjunction with the following interagency documents, which were issued
with FIL-84-2003, dated October 28, 2003:
-
Independent
Appraisal and Evaluation Functions (2003), and
-
Interagency
Appraisal and Evaluation Guidelines (1994).
FIL-84-2003 can be found on
the FDIC’s Web site at http://www.fdic.gov/news/news/financial/2003/fil0384.html.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Chief Appraiser
Legal Counsel
Related Topics:
FDIC Deposit Insurance Regulations
Part 323 – Appraisal Regulations
Attachment:
Frequently Asked Questions on the Appraisal Regulations and the
Interagency Statement on Independent Appraisal and Evaluation
Functions
Frequently Asked Questions on the Appraisal Regulations and the
Interagency Statement on Independent Appraisal and Evaluation
Functions - PDF 32k (PDF Help)
Contact:
Examination Specialist James Leitner at jleitner@fdic.gov or
202-898-6790.
Note:
FDIC
Financial Institution Letters (FILs) may be accessed from the FDIC's Web
site at www.fdic.gov/news/news/financial/2005/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC FILs may be obtained through the FDIC's Public
Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434
(1-877-275-3342 or (703) 562-2200).
