Skip to content

"Board-approved" Estimate- Evaluation Requirements

Answered by: 

Question: 
Can a Bank use a "Board-approved" Estimate (number only) to satisfy the evaluation requirements if an appraisal is allowed to be waived due to the transaction amount being less than $500,000?
Answer: 

I am not sure what you mean by a "Board-approved" estimate. If the evaluation that was performed meets the regulatory guidelines for completing a complete and sufficient evaluation and that evaluation process has been approved by the board, then the answer is yes.

First published on 07/11/2021

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics