ALEXANDRIA, Va.-NCUA jointly released a frequently asked questions guide with the other federal banking regulators last week. NCUA, together with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision prepared the FAQ in response to questions from federally regulated institutions on the standards for choosing appraisers, ordering appraisals, accepting transferred appraisals, and other related topics. The regulators said this document should be reviewed in conjunction with the agencies' appraisal regulations, the "Interagency Appraisal and Evaluation Guidelines from Oct. 27, 1994, and the joint statement "Independent Appraisal and Evaluation Functions," dated Oct. 28, 2003. The FAQ can be viewed at www.ncua.gov under Letter to Credit Unions 05-CU-06.
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