Lenders granting consumer credit agreements relating to immovable property secured by a mortgage or by a charge on land are to
1. apply reliable standards in appraising the residential immovable property, and are to
2. ensure that the internal and external appraisers conducting property valuations on their behalf are professionally competent and sufficiently independent from the credit underwriting process that they can provide an objective valuation, and are to
3. document on a durable medium and keep a record of the appraisals of immovable property serving as security for consumer credit agreements relating to immovable property.