Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
New appraisal evaluation guidelines open for comment
WASHINGTON (12/2/08)--The National Credit Union Administration (NCUA), along with federal bank and thrift regulators, proposed interagency appraisal and evaluation guidelines that outline supervisory expectations for sound real estate practices. The Credit Union National Association (CUNA) is asking credit unions to comment on the guidelines by Jan. 12. Comments are due to the agencies by Jan. 20. The guidelines are intended to clarify appropriate risk-management principles and internal controls for ensuring that real estate appraisals and other evaluations are reliable and support a real estate transaction. The proposed guidance would replace the 1994 Interagency Appraisal and Evaluation Guidelines and incorporate recent regulatory actions into the rules. The NCUA was not a party to the 1994 Guidelines. The new, more-detailed guidance would also reflect other changes in industry practices, uniform appraisal standards, and available technologies. It includes three appendices:
* One provides further clarification on real estate transactions that are exempt from the agencies’ appraisal regulations; * Another addresses acceptable evaluation alternatives, including the use of automated valuation models (AVMs); * The third appendix provides a glossary of terms.
Use the resource link below to read more about the joint-agency proposal and to read CUNA’s complete comment call.


RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
4 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
8 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
8 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
8 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
9 hours ago