Laws and Regulations
Key laws and regulations that pertain to FDIC-supervised institutions; note that other laws and regulations also may apply.
- Part 323 — Appraisals addresses requirements for a written appraisal for certain real estate-related transactions
- Appendix A to Part 364 — Interagency Guidelines Establishing Standards for Safety and Soundness provides operational and managerial standards for safety and soundness to include asset quality and asset growth
- Part 365 — Real Estate Lending Standards provides standards for real estate lending and addresses the adoption and maintenance of written policies for extensions of credit that are secured by real estate, or that are made for the purpose of financing permanent improvements to real estate
Frequently asked questions, advisories, statements of policy, and other information issued by the FDIC alone, or on an interagency basis, provided to promote safe-and-sound operations.
- Section 3.2 — Loans of the Risk Management Manual of Examination Policies describes the review process for valuation approaches and regulatory requirements for appraisals and evaluations
- Facilitating Real Estate-Related Transactions Affected by COVID-19 outlines existing flexibilities provided by industry appraisal standards and the agencies’ appraisal regulations and highlights temporary changes to Fannie Mae and Freddie Mac appraisal standards to facilitate real estate transactions [Some existing flexibilities remain in place; however, the Interim Final Rule expired on December 31, 2020, and some temporary changes to Fannie and Freddie appraisal standards were amended.]
- Frequently Asked Questions address the appraisal regulations and the interagency appraisal and evaluation guidelines
- Interagency Advisory on the Availability of Appraisers provides information on two existing options, temporary practice permits and temporary waivers, that may address appraiser shortages, particularly in rural areas
- Interagency Advisory on Use of Evaluations in Real Estate-Related Financial Transactions responds to questions regarding the use of an evaluation instead of an appraisal for estimating the market value of real property collateral
- Interagency Appraisal and Evaluation Guidelines provide information regarding for policies, procedures, and practices relating to appraisals and evaluations
Supplemental information related to safe-and-sound banking operations.
- The Uniform Standards of Professional Appraisal Practice (USPAP) are the generally recognized ethical and performance standards for the appraisal profession in the United States, and adherence to USPAP is one of the minimum requirements in the FDIC’s appraisal regulations. (More information on USPAP is available at: https://www.appraisalfoundation.org/imis/)
- FDIC's Supervisory Insights — Winter 2011 article, “Navigating the Real Estate Valuation Process”