Our bank's loan policy requires that any real estate appraiser needs to be on a list (included in the policy) as having been pre-approved by the board. New management wants to see if we can ask the board to change the policy and do away with the old way and just have a "blanket approval" of all state certified appraisers, and just have a list of folks we don't want to use (based on bad experience with particular appraisers). Is anyone aware of any regs that have prohibitions to doing this? Do other banks have this more open policy?

I'm not sure of any regulation on this issue but the bank I worked at before this use to do what you are refering to. We had what was called the "Negative Appraiser" list. These were appraisers who consistantly appraised the value of the real estate higher than the bank determined it should be. Therefore, the bank would not accept any appraisals from people on the list and would require the customer to obtain an appraisal from another appraiser. We did this for the last 2 years that I was there. But like I said I don't know if there is a regulation prohibiting this practice.