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#1354706 - 03/09/10 10:05 PM Examiners Requiring New Appraisals?
Timex Offline
Member
Joined: Dec 2005
Posts: 60
Are any other banks being told during their exam that internal evaluations using recent comparable sales or recent market rates for the income approach are not adequate to renew a loan, so the bank needs to get a new appraisal?

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Lending Compliance
#1354732 - 03/09/10 10:25 PM Re: Examiners Requiring New Appraisals? Timex
CompDat Offline
Platinum Poster
Joined: Dec 2005
Posts: 553
USA
I know of at least two FI's who have been required to get new appraisals.

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#1354742 - 03/09/10 10:44 PM Re: Examiners Requiring New Appraisals? CompDat
SuperBanker Offline
100 Club
Joined: Nov 2006
Posts: 243
Depending on the size, credit rating, or overall market softness, the examiners could require you to get new appraisals at any time.

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#1354747 - 03/09/10 10:47 PM Re: Examiners Requiring New Appraisals? SuperBanker
Happy Birthday Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,281
Not that unusual for a bank with problem credits, or in a soft market. The reserve, etc. all hinge on those values.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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