Proposed Interagency Guidance on Reconsiderations of Value of Residential Real Estate Valuations Summary
This tool summarizes the Proposed Interagency Guidance on Reconsiderations of Value of Residential Real Estate Valuations. Key takeaways include:
- Discussion of the risks of deficient collateral valuations and the existing guidance related to valuations.
- Explanation of how ROV processes and controls can be incorporated into existing risk management functions.
- Provides examples of ROV policies, procedures, and controls that banks may adopt.
- Requests comment on several questions by September 19, 2023.
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