NCUA · other · Published 1995-10-04 · Effective 1995-10-01 · 60 FR 51889
Document
Document number
95-24690
Federal Register citation
60 FR 51889
CFR reference
12 CFR 722
Type
Rule
Action
Final amendments.
Category
other
Agency
US National Credit Union Administration
Publication date
1995-10-04
Effective date
1995-10-01
Abstract
The NCUA Board is issuing final amendments to its regulation regarding the appraisal of real estate, adopted pursuant to Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989. The final amendments simplify compliance with regulatory requirements for credit unions by changing provisions of the appraisal regulation that govern: the publication of the Uniform Standards of Professional Appraisal Practice (USPAP); minimum appraisal standards; appraisals to address safety and soundness concerns; unavailable information; additional appraisal standards developed by credit unions; and appraiser independence. The final amendments should reduce costs without affecting the reliability of appraisals used in connection with federally related transactions.