Since December 2010, financial institutions have had to maintain strict requirements to ensure a safe and sound program for performing appraisals and evaluations for real-estate related transactions, as required by the Interagency Appraisal and Evaluation Guidelines. Limited exceptions for appraisals were required under the Guidelines, requiring banks to request more appraisals than ever before and maintain stringent requirements in the ordering of those appraisals. Since 2010, appraisals for real-estate related transactions have dramatically increased while […]
