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
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]