Interagency Guidance on Reconsiderations of Value of Residential Real Estate Valuations
Fed · guidance · Published 2024-07-26 · 89 FR 60549
Document
Document number
2024-16200
Federal Register citation
89 FR 60549
Type
Rule
Action
Final interagency guidance.
Category
guidance
Agency
US Federal Reserve System
Publication date
2024-07-26
Docket
Docket ID OCC-2023-0007
Abstract
The Board, CFPB, FDIC, NCUA, and OCC (together, the agencies) are issuing final guidance that highlights risks associated with deficient residential real estate valuations and describes how financial institutions may incorporate reconsiderations of value (ROV) processes and controls into established risk management functions. The final guidance also provides examples of policies and procedures that a financial institution may choose to implement to help identify, address, and mitigate the risk of discrimination impacting residential real estate valuations.