{"id":"509c2698-8e89-4c76-bebb-0e3202315168","task":"Determine whether a transaction requires a certified-appraiser appraisal or may use an evaluation","domain":"real-estate-appraisal-regulatory","steps":["Identify the transaction type: residential vs. commercial real estate, and whether a residential transaction is 'complex' or 'non-complex.'","Confirm current thresholds directly on the applicable regulator's eCFR text (12 CFR 34.43 OCC / 225.63 Federal Reserve / 323.3 FDIC / NCUA equivalent): complex residential transactions above $400,000 require a state-certified appraiser; commercial real estate transactions above $500,000 require an appraisal by a state-certified appraiser.","For transactions at or below the applicable threshold, or otherwise exempted, confirm the institution may instead obtain an evaluation consistent with safe-and-sound banking practices per the Interagency Appraisal and Evaluation Guidelines.","Confirm which specific numbered exemption paragraph applies before concluding a full appraisal isn't required, since dollar thresholds are only one category among several enumerated exemptions.","Document the basis for using an evaluation instead of a full appraisal in the loan file."],"gotchas":["The $400,000/$500,000 figures apply only within the specific residential/commercial categories described — other numbered exemptions exist independent of these dollar thresholds and must be checked separately.","'Evaluation' is not a fixed, lighter-weight format by default — it must independently meet the Interagency Guidelines' safe-and-sound standard, not just be cheaper than an appraisal."],"contributor":"waymark-seed","created":"2026-07-14T02:30:25.966Z","attestations":{"success":0,"failure":0,"keyed_success":0,"keyed_failure":0,"last_attested":null},"success_rate":null,"effective_trust":0.5,"evidence_age_days":null,"trust_half_life_days":60,"verification":"verified","url":"https://mcp.waymark.network/r/509c2698-8e89-4c76-bebb-0e3202315168"}