Appraisal Policy
This Appraisal Policy Template addresses the requirements for appraisals and evaluations made pursuant to loan activities for a bank, credit union, fintech company, or other type of financial institution. The appraisal and evaluation standards incorporate current federal regulatory policy guidelines governing the procedures to obtain formal appraisals and evaluations on real estate secured loans, and the policy sets forth the frequency and content of appraisals and evaluations and describes the real estate appraisal review process.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Independence of the Appraisal and Evaluation Program – Topic 4
- Selection of Appraisers or Persons Who Perform Evaluations – Topic 5
- Transactions that Require Appraisals or Evaluations – Topic 6
- Appraisal Exemptions – Topic 7
- Minimum Appraisal and Evaluation Standards – Topic 8
- Appraisal and Evaluation Development – Topic 9
- Appraisal Reports – Topic 10
- Review and Analysis of Appraisals – Topic 11
- Third-Party Arrangements – Topic 12
- Other Evaluation Methods – Topic 13
- Fee Collection – Topic 14
- Regulation B Applicability – Topic 15
- Regulation Z Applicability – Topic 16
- Fannie Mae/Freddie Mac Applicability – Topic 17
- Appraisal Management Company Requirements – Topic 18
- Audit Policy – Topic 19
- Staff Training – Topic 20
- Retention of Documentation – Topic 21
This Appraisal Policy Template (approximately 66 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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