12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC) § 34.44 — Minimum appraisal standards
12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC), §34.44 Minimum appraisal standards. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC) § 34.44 — Minimum appraisal standards — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §34.44
§ 34.44 Minimum appraisal standards. For federally related transactions, all appraisals shall, at a minimum:
12 CFR §34.44(a)
(a) Conform to generally accepted appraisal standards as evidenced by the Uniform Standards of Professional Appraisal Practice (USPAP) promulgated by the Appraisal Standards Board of the Appraisal Foundation, (www.appraisalfoundation.org), unless principles of safe and sound banking require compliance with stricter standards;
12 CFR §34.44(b)
(b) Be written and contain sufficient information and analysis to support the institution's decision to engage in the transaction;
12 CFR §34.44(c)
(c) Be subject to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice;
12 CFR §34.44(d)
(d) Analyze and report appropriate deductions and discounts for proposed construction or renovation, partially leased buildings, non-market lease terms, and tract developments with unsold units;
12 CFR §34.44(e)
(e) Be based upon the definition of market value as set forth in this subpart; and
12 CFR §34.44(f)
(f) Be performed by State licensed or certified appraisers in accordance with requirements set forth in this subpart. [59 FR 29500, June 7, 1994, as amended at 79 FR 28400, May 16, 2014; 84 FR 53597, Oct. 8, 2019]
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Source of record: https://claudeforcompliance.com/regs/occ-12cfr-34-44/
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