OCC BULLETIN 2017-19
Subject: Appraiser Shortages
Date: May 31, 2017
To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties
Description: Interagency Advisory on the Availability of Appraisers
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration today issued an advisory that discusses two existing options to help insured depository institutions address shortages of state-certified and licensed appraisers, particularly in rural areas: temporary practice permits and temporary waivers.
The agencies issued this advisory in response to comments received from the financial industry regarding the timeliness of appraisals due largely to what the commenters believe to be problems with the availability of certified and licensed appraisers.
Please contact Kevin Lawton, Credit Risk Division, at (202) 649-6770.
Grace E. Dailey