12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC) § 34.45 — Appraiser independence
12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC), §34.45 Appraiser independence. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC) § 34.45 — Appraiser independence — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §34.45(a)
(a) Staff appraisers. If an appraisal is prepared by a staff appraiser, that appraiser must be independent of the lending, investment, and collection functions and not involved, except as an appraiser, in the federally related transaction, and have no direct or indirect interest, financial or otherwise, in the property. If the only qualified persons available to perform an appraisal are involved in the lending, investment, or collection functions of the regulated institution, the regulated institution shall take appropriate steps to ensure that the appraisers exercise independent judgment. Such steps include, but are not limited to, prohibiting an individual from performing an appraisal in connection with federally related transactions in which the appraiser is otherwise involved and prohibiting directors and officers from participating in any vote or approval involving assets on which they performed an appraisal.
12 CFR §34.45(b)
(b) Fee appraisers. (1) If an appraisal is prepared by a fee appraiser, the appraiser shall be engaged directly by the regulated institution or its agent, and have no direct or indirect interest, financial or otherwise, in the property or the transaction. (2) A regulated institution also may accept an appraisal that was prepared by an appraiser engaged directly by another financial services institution, if:
12 CFR §34.45(i)
(i) The appraiser has no direct or indirect interest, financial or otherwise, in the property or the transaction; and (ii) The regulated institution determines that the appraisal conforms to the requirements of this subpart and is otherwise acceptable. [55 FR 34696, Aug. 24, 1990, as amended at 59 FR 29500, June 7, 1994]
Operationalizing 12 CFR Part 34 — Real Estate Lending, Appraisals & AVMs (OCC) § 34.45 — Appraiser independence
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
Source of record: https://claudeforcompliance.com/regs/occ-12cfr-34-45/
· register occ-12cfr-34-45 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.