When Can I Pull A Credit Report on an Existing Loan Customer?
…and other answers to your compliance questions in the May/June 2020 ABA Regulatory Policy and Compliance Inbox.
Browsing: Appraisals
Agencies to Temporarily Defer Appraisals, Evaluations for Real Estate Transactions
The federal banking agencies issued an interim final rule this evening allowing financial institutions to temporarily defer appraisals and evaluations for residential or commercial real estate transactions for up to 120 days during the COVID-19 national emergency.
FHFA Announces New Measures to Ensure Liquidity in Mortgage Markets
To help ensure liquidity in the secondary mortgage market, the Federal Housing Finance Agency today directed Fannie Mae and Freddie Mac to engage in additional dollar roll transactions, which would provide investors in mortgage-backed securities with short-term financing of their positions.
Compliance Q&A: What Can I Do About a Lack of Appraisers in a Rural Area?
…and other answers to your compliance questions in the March/April 2020 ABA Regulatory Policy and Compliance Inbox.
Agencies Issue Final Rule Raising Residential Real Estate Appraisal Threshold to $400K
The financial regulatory agencies today issued a final rule—which takes effect immediately—raising the appraisal threshold for residential real estate transactions from $250,000 to $400,000.
FFIEC Green Lights Temporary Appraisal Relief for North Dakota
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council has approved a waiver request from appraisal licensing requirements for the state of North Dakota.
NCUA Appraisal Action Creates Inconsistent Regulatory Standard
By a two-to-one vote, the National Credit Union Administration board today finalized a controversial proposal to raise the threshold at which credit unions must obtain appraisals for commercial real estate transactions from $250,000 to $1 million.
Op-Ed Highlights Consequences of NCUA Appraisal Threshold Proposal
A move by the National Credit Union Administration to quadruple the appraisal threshold for nonresidential real estate loans could have broad-reaching consequences for the financial system, according to an op-ed by Appraisal Institute President Stephen Wagner published in American Banker today.
Should We Require Restrictive Endorsements on Remote Business Deposits?
…and more insights from ABA’s Compliance Center Inbox in the next issue of the ABA Banking Journal.
Compliance in 2019: What to Expect and Where to Focus
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.