I ask because this is what the OCC says if you are regulated by them, by other regulators and States may have different requirements .
If the bank has a valid and compliant appraisal or evaluation that was previously obtained in connection with the underlying real estate loan, however, the bank does not need to obtain a new appraisal or evaluation to comply with these regulations. Section XIV, “Validity of Appraisals and Evaluations,†of the “Interagency Appraisal and Evaluation Guidelines†states that banks should establish criteria for assessing whether an existing appraisal or evaluation remains valid and discusses factors that should be considered in such an assessment.
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