Regulatory Alerts2000-05-24
Added · Updated
Use of County Tax Assessment Information for Evaluations
The Kansas Office of the State Bank Commissioner clarifies that county tax assessment information may be used as part of an evaluation for real estate loans between $25,000 and $500,000. Officers or directors must exercise due diligence by reviewing the tax data's validity and providing a written reconciliation based on market, cost, or income approaches. The evaluation must also include a legal property description, owner details, improvement conditions, basis for value, and be signed by the independent evaluator.
More like this from OSBC
We email you every new OSBC publication the day it's published.
Topics
Share