These recordkeeping requirements are specified in Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) as set forth in the Board’s Regulation H, subpart E (12 CFR 208.50-208.51) and Regulation Y, subpart G (12 CFR 225.61-225.67). These regulations require that, for federally related transactions, regulated institutions obtain real estate appraisals performed by certified or licensed appraisers in conformance with uniform appraisal standards. There is no formal reporting form and the information is not submitted to the Federal Reserve.
The latest form for Recordkeeping and Disclosure Requirements and Provisions Associated with Real Estate Appraisal Standards expires 2021-05-31 and can be found here.
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Supporting Statement A |
Federal Enterprise Architecture: Economic Development - Financial Sector Oversight