Seal of the Board of Governors of the Federal Reserve System
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON, D. C.  20551
DIVISION OF BANKING
SUPERVISION AND REGULATION
SR 05-14
September 8, 2005

TO THE OFFICER IN CHARGE OF SUPERVISION AND APPROPRIATE SUPERVISORY STAFF AT EACH FEDERAL RESERVE BANK AND BANKING ORGANIZATIONS SUPERVISED BY THE FEDERAL RESERVE
SUBJECT:  Interagency FAQs on Residential Tract Development Lending

The Federal Reserve and the other federal financial institutions regulatory agencies are jointly issuing the attached Frequently Asked Questions (FAQ) to assist regulated institutions in complying with the agencies' appraisal regulations and real estate lending requirements when financing residential construction in a tract development.1 The FAQ topics include

Reserve Banks are asked to provide a copy of this letter and the FAQs to state member banks and bank holding companies and to appropriate supervision staff. Questions concerning this guidance should be directed to Ms. Virginia Gibbs, Senior Supervisory Financial Analyst, at 202-452-2521.

Stephen M. Hoffman, Jr.
Deputy Director


Attachment:
Frequently Asked Questions on Residential Tract Development Lending (404 KB PDF)
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency
Office of Thrift Supervision

Notes:
  1. Real estate appraisal regulations: 12 CFR 208 subpart E and 12 CFR 225 subpart G. Interagency Appraisal and Evaluation Guidelines: SR letter 94-55. Real estate lending standards regulation and guidelines: 12 CFR 208 subpart E and appendix C.  Return to text
SR letters | 2005
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