### Question
How is the term appraised value defined?


### Answer
The term **appraised value** is defined in *12 U.S.C. § 1709* as the following:

> the amount set forth in the written statement required under section 1715q of this title, or a similar amount determined by the Secretary if section 1715q of this title does not apply

#### Citation:
  - *12 U.S.C. § 1709*
  - Heading: **CHAPTER 13-NATIONAL HOUSING > SUBCHAPTER II-MORTGAGE INSURANCE**

