Regulatory Alerts2024-09-23 | NDMC-37Technical Standards for the Recognition and Qualification of Asset Appraisers for Securitization Processes
The Norms Committee of the Central Reserve Bank of El Salvador issued Technical Standards to establish the minimum requirements for recognizing external property appraiser registries and qualifying individuals or entities to appraise financial assets for securitization. The regulations define specific eligibility criteria, including professional qualifications, clean legal records, and independence from originators, while mandating that appraisers use recognized technical methods. Furthermore, the document outlines a detailed administrative procedure with strict deadlines for the Superintendency of the Financial System to review applications and grant or deny recognition and qualification.
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