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.
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.
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.
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.
…and more insights from ABA’s Compliance Center Inbox in the next issue of the ABA Banking Journal.
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
The Consumer Financial Protection Bureau today released the lists of rural counties and rural or underserved counties that entities can use in 2019 to determine whether they are exempt from certain regulatory requirements.
The American Bankers Association today offered support for a recent proposal by the financial regulatory agencies to raise the appraisal threshold for residential real estate transactions to $250,000 to $400,000.
The rapid pace of change will continue in 2019, ABA policy staff project.
A recent proposal by the National Credit Union Administration to raise the threshold at which credit unions must obtain appraisals for commercial real estate transactions from $250,000 to $1 million would create an unlevel playing field between banks and credit unions, ABA said in a comment letter to the NCUA today.