Cbanc home

Can you use internally, a drive by appraisal/ tax assessment value for residental loans up to $250,000. Our plans are to state in our internal residentail real estate loans to use the above mentioned methods along with a recent old appraisal for loan to value ratio's under 60% or small loan requests. The drive-by would be completed by someone not associated with the loan. We have another officer who stated we must now get a state certified appraisal for all requests. Please let me know. Thank you Mike

We use a tax assessment as a substitute for appraisals on smaller [less than $100,000] lo...

The Interagency Appraisal and Evaluation Guidelines require banks to establish criteria for assessing whether an existing appraisal continues to reflect the market value of a property. One of the factors that is provided for consideration is the passage of time. It is given that a large number of factors can affect the value other than the passage of time, but this tends to be a standard point of reference for lending and credit risk management staff. In order to provide a simple benchmark, what could be generally considered an acceptable shelf life for an appraisal report?

What we have found to be "acceptable" to examiners is that if not a re-appraisal, a re-ev...