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ARTICLE · 17 DECEMBER 2010

Final Interagency Appraisal and Evaluation Guidelines (Part 1)

Morrison Foerster
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On December 2, 2010, five federal banking agencies – the Office of the Comptroller of the Currency (OCC), Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of Thrift Supervision (OTS) and National Credit Union Administration (NCUA) (collectively, the "Banking Agencies") – issued their long awaited revision to the Interagency Appraisal and Evaluation Guidelines ("Guidelines") that were first issued in 1994.

United StatesFinance and Banking

BRIEF SUMMARY

On December 2, 2010, five federal banking agencies – the Office of the Comptroller of the Currency (OCC), Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of Thrift Supervision (OTS) and National Credit Union Administration (NCUA) (collectively, the "Banking Agencies") – issued their long awaited revision to the Interagency Appraisal and Evaluation Guidelines ("Guidelines") that were first issued in 1994. The Guidelines, which are applicable to regulated banking institutions, identify the components of a safe and sound program for performing appraisals and evaluations for real estate-related financial transactions. This Client Alert summarizes the Guidelines and discusses their ramifications.1

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