Residential Appraisals

Appraisals are professional judgments of the market value of real property. Interagency guidelines address supervisory matters relating to these appraisals and provide guidance to examining personnel and federally regulated institutions about prudent appraisal and evaluation policies, procedures, practices, and standards.

Follow the links on this page for regulatory resources related to residential appraisals.

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Real Estate Lending and Appraisals (12 CFR 34)
Sets forth standards for real estate-related lending and associated activities by national banks

Commercial Real Estate Lending (Comptroller's Handbook, January 2017)
Addresses supervisory matters relating to real estate appraisals and evaluations used to support real estate-related financial transactions


Agencies Seek Comment on Proposed Interagency Appraisal and Evaluation Guidelines (NR 2008-133, November 2008), Proposed Guidelines
Covers guidance that would replace the 1994 Interagency Appraisal and Evaluation Guidelines

Appraisals for Affordable Housing Loans (OCC 1995-16, March 1995), Interagency Statement
Clarifies the position of the federal financial regulatory agencies on inclusion of intangible items in determining market value

Appraisal Regulations and the Interagency Statement on Independent Appraisal and Evaluation Functions (OCC 2005-6, March 2005)
Clarifies standards for independence within 12 CFR 34, C, 34.45, Interagency Appraisal and Evaluation Guidelines, and Advisory Letter 2003-9

Interagency Guidelines for Real Estate Lending Policies (OCC 1999-38, October 1999), Interagency Guidance
Covers risks associated with high loan-to-value residential real estate lending and refers to the 1992 Interagency Guidelines for Real Estate Lending Policies

Real Estate Appraisals (OCC 1994-37, June 1994), Final Regulation Summary and Explanation; Final Rule (Federal Register, June 7, 1994)
Covers the OCC's final rule amending its real estate appraisal regulation, 12 CFR 34

Real Estate Lending and Appraisals Subpart B (ARMS) and Subpart E (OREO) (OCC 1996-22, April 1996), Final Rule (Federal Register, March 20 1996)
Addresses revision of Part 34 under OCC's Regulation Review Program to eliminate unnecessary regulatory burdens

Real Estate Lending Policies (Guidelines) (AL 2003-7, August 2003)
Covers loan-to-value (LTV) ratio when multiple properties secure a loan; LTV limits for a finished lot loan; and classifying LTV loans

Revisions to Uniform Standards of Professional Appraisal Practice (OCC 2006-27, July 2006)
Highlights the revisions and reminds banks to consider the ramifications of the revisions to their appraisal practices