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When Is An Appraisal Required?

2018-05-14

Regulatory Authority: Federal Reserve Bureau (FRB)

Credit Hours:

The general rule is that anytime a regulated financial institution makes a loan secured by real estate it must have an appraisal of the real estate performed by a state licensed or certified appraiser in conformity with the Uniform Standards of Professional Appraisal Price (USPAP). The first exception to that rule is that if you are taking the real estate as collateral out of an abundance of caution then no appraisal or evaluation is required.

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