Examiners Requiring New Appraisals?

Posted By: Timex

Examiners Requiring New Appraisals? - 03/09/10 10:05 PM

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?
Posted By: CompDat

Re: Examiners Requiring New Appraisals? - 03/09/10 10:25 PM

I know of at least two FI's who have been required to get new appraisals.
Posted By: SuperBanker

Re: Examiners Requiring New Appraisals? - 03/09/10 10:44 PM

Depending on the size, credit rating, or overall market softness, the examiners could require you to get new appraisals at any time.
Posted By: Kathleen O. Blanchard

Re: Examiners Requiring New Appraisals? - 03/09/10 10:47 PM

Not that unusual for a bank with problem credits, or in a soft market. The reserve, etc. all hinge on those values.