Archive: 9 January 2012

1
Are Valuation Review Standards on the Federal Banking Agencies’ Radar?
2
CFPB Officially Launches Nonbank Supervision Program

Are Valuation Review Standards on the Federal Banking Agencies’ Radar?

By: Nanci L. Weissgold and Kerri M. Smith

Mandated by the Dodd-Frank Act, lenders and appraisal management companies (known as AMCs) are awaiting a series of joint rules addressing appraisal issues. While rules addressing pre-funding reviews of appraisals or evaluations is not a topic specifically required by the January 21, 2013 deadline, the FDIC’s Winter 2011 issue of Supervisory Insights hints that it may be addressed in the joint rule establishing minimum requirements for AMCs’ state registration. This may be a welcome development for regulated banking institutions subject to the revised Interagency Appraisal and Evaluation Guidelines (“Guidelines”). Those Guidelines, issued jointly by the federal banking agencies on December 2, 2010 (and effective on that date), update and replace existing guidance in response to changes in the real estate valuation industry and those mandated by the Dodd-Frank Act.

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CFPB Officially Launches Nonbank Supervision Program

By: Stephanie C. Robinson

Now that the CFPB has a director, it can officially begin to exercise the full authorities granted to it under the Dodd-Frank Act. The agency issued a press release on Thursday announcing the formal launch of its nonbank supervision program. Read More

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