Federal Reserve System July 26, 2024 – Federal Register Recent Federal Regulation Documents

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Interagency Guidance on Reconsiderations of Value of Residential Real Estate Valuations

Document Number: 2024-16200

Type: Rule

Date: 2024-07-26

Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury

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.

https://regulations.justia.com/regulations/fedreg/2024/07/26/2024-16200.html