The federal bank, thrift and credit union regulatory agencies today jointly issued for comment proposed Interagency Appraisal and Evaluation Guidelines that reaffirm supervisory expectations for sound real estate appraisal and evaluation practices.

Within the proposed guidelines are new appendices:

• Appendix A provides further clarification on real estate transactions that are exempt from the agencies' appraisal regulations;
• Appendix B addresses acceptable evaluation alternatives and use of automated valuation models; and
• Appendix C contains a new glossary of terms.

Here are some excerpts from Appendix B: