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Electronic Code of Federal Regulations

e-CFR Data is current as of December 17, 2014

Title 38Chapter IPart 36Subpart B → §36.4343


Title 38: Pensions, Bonuses, and Veterans' Relief
PART 36—LOAN GUARANTY
Subpart B—Guaranty or Insurance of Loans to Veterans With Electronic Reporting


§36.4343   Restriction on designated fee appraisers.

(a) A designated fee appraiser shall not make an appraisal, excepting of alterations, improvements, or repairs to real property entailing a cost of not more than $3,500, if such appraiser is an officer, director, trustee, employer, or employee of the lender, contractor, or vendor.

(b) An appraisal made by a designated fee appraiser shall be subject to review and adjustment by the Secretary. The amount determined to be proper upon any such review or adjustment shall constitute the “reasonable value” for the purpose of determining the eligibility of the related loan.

(Authority 38 U.S.C. 3703(c)(1), 3731)



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