New property appraisal guidelines have been released by the FED, the Office of the Comptroller of the Currency, the office of Thrift Supervision, the Federal Deposit Insurance Corp. (FDIC) and the National Credit Union Administration.

Setting a standard, the new guidelines require that banks not tell the appraiser of any expected estimate of value, specify a minimum value, tie an appraiser's compensation to loan approval or blacklist an appraiser who's valuations fail to meet the expected.

Lenders can still exchange information with appraisers, however they CANNOT directly or indirectly coerce, influence, or otherwise encourage an appraiser or a person who performs an evaluation to misstate or misrepresent the value of the property.