Highlights:
The attached document addresses common questions about appraisal and real estate lending requirements for financing residential construction in a tract development.
Institutions should review these FAQs in conjunction with the following:
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Chief Appraiser
Legal Counsel
Related Topics:
Part 323 – Appraisal Regulations
Interagency Appraisal and Evaluation Guidelines
Part 365 – Real Estate Lending Regulations
Interagency Guidelines for Real Estate Lending Policies
Attachment:
Frequently Asked Questions on Residential Tract Development
Frequently Asked Questions on Residential Tract Development - PDF 99k (PDF Help)
Contact:
Examination Specialist James Leitner at jleitner@fdic.gov or (202) 898-6790
Printable Format:
FIL-90-2005 - PDF 32k (PDF Help)
Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2005/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).
