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Veterans Benefits Administration Circular 26-22-13 Department of Veterans Affairs July 27, 2022 Washington, DC 20420 Procedures for Alternative Valuation Methods 1. Purpose. This Circular clarifies when an appraisal is required for VA-guaranteed loans and announces new procedures for alternative valuation methods. 2. Background. An appraisal of a property is generally required for VA-guaranteed loans.1 Appraisals are performed by an appraiser on VA’s fee panel to protect the interest of Veterans, lenders, servicers, and VA. VA’s fee panel is comprised of independently-credentialed fee appraisers who provide objective, impartial, and unbiased opinions about the value of real property. Each appraisal assignment is completed in accordance with the Uniform Standards of Appraisal Practice (USPAP)2 and VA appraisal guidelines as outlined in the Lenders Handbook, VA Pamphlet 26-7.3 a. Generally, VA fee panel appraisers access and view the exterior and interior of the property prior to complet...