March 7, 2016 – For the first time since December, 2010, the Agencies have issued a statement on Evaluations. I will include the FDIC link below, albeit the Federal Reserve and OCC have similar links.
My feeling is nothing new has been added. There is a bit more talk about how to use tax assessments – hopefully, this will once again become more common now that The Great Depression II has run most of its course. Also, they make it clear that market value must be of real property only. FF&E in apartments and going concern properties must be valued separately, just like in appraisals.
Please pass the link below along to your bank contacts so everyone can stay informed. Thanks.