Page:United States Statutes at Large Volume 101 Part 1.djvu/647

 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 617

the thrift institution which holds a loan made to such borrower or with recourse to the borrower. (3) APPRAISAL REVIEW.—A provision establishing an appraisal review system to avoid overly optimistic or conservative appraisals with the goal of achieving appraisals that are more consistent in reflecting underlying values. (4) l-TO-4 FAMILY RESIDENCES.—A provision eliminating the d scheduled item system except as such system relates to l-to-4 family residences. (c) DEFINITIONS.—For purposes of subsections (a) and (b)— (1) THRIFT INSTITUTION.—The term "thrift institution" c means— (A) any association (within the meaning given to such term in section 2(d) of the Home Owners' Loan Act of 1933); (B) any insured institution (within the meaning given to • such term in section 401(a) of the National Housing Act); ^ and (C) any member (within the meaning given to such term in section 2(4) of the Federal Home Loan Bank Act). • ^ (2) BOARD.—The term "Board" means the Federal Home Loan (3) FEDERAL BANKING AGENCY.—The term "Federal banking agency" means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation. (d) NONADVERSARIAL REVIEW OF CERTAIN SUPERVISORY DECISIONS.—The Federal Home Loan Bank Act (12 U.S.C. 1421 et seq.) is amended by inserting after section 22 the following new section: "SEC. 22A. INFORMAL REVIEW OF CERTAIN SUPERVISORY DECISIONS. "(a) REVIEW OF CERTAIN SUPERVISORY DECISIONS.—The Board shall establish an informal review procedure under which any association, insured institution, or member may obtain a review, by the principal supervisory agent for the Federal home loan bank district in which such association, institution, or member is located, of any decision by any examiner or supervisory agent of the Federal home loan bank for such district with respect to— "(1) the appraisal value of— ^,,, "(A) any loan held by the association, insured institution, or member; or "(B) any property serving as collateral to secure the repayment of any loan (held by the association, institution, or member); "(2) the classification of any loan held by the association, institution, or member; or "(3) any requirement imposed on the association, institution, or member to establish or to add to a reserve or allowance for a possible loss on any loan held by such institution. "(b) STANDARDS FOR REVIEW.—The review procedure established pursuant to subsection (a) shall provide that the principal supervisory agent for the appropriate Federal home loan bank district, after taking into account the report described in subsection (c)(2) by the arbiter (or panel of arbiters), shall approve, modify, or set aside any decision for which a review has been requested on the basis of the supervisory agent's review of all the facts and the regulations applicable to such decision and shall take such action as such agent
 * Bank Board.

12 USC 1462. 12 USC 1724. 12 USC 1422.

12 USC 1442a.

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