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OCC Bulletin 2017-19 | May 31, 2017

Appraiser Shortages: Interagency Advisory on the Availability of Appraisers


Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties


The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration today issued an advisory that discusses two existing options to help insured depository institutions address shortages of state-certified and licensed appraisers, particularly in rural areas: temporary practice permits and temporary waivers.

The agencies issued this advisory in response to comments received from the financial industry regarding the timeliness of appraisals due largely to what the commenters believe to be problems with the availability of certified and licensed appraisers.

Note for Community Banks

This bulletin applies to all national banks and federal savings associations.


  • Temporary practice permits allow certified and licensed appraisers to provide their services in states experiencing a shortage of appraisers, particularly in rural areas, subject to state law The advisory also discusses reciprocity, in which one state allows appraisers that are certified or licensed in another state to obtain certification or licensing without having to meet all of the state’s certification or licensing standards.
  • Temporary waivers set aside requirements relating to the certification or licensing of individuals to perform appraisals under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 in states or geographic political subdivisions when certain conditions are met.

Further Information

Please contact Kevin Lawton, Credit Risk Division, at (202) 649-6770. 

Grace E. Dailey
Senior Deputy Comptroller and Chief National Bank Examiner

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