Appraisals for mortgages – threshold level (12/6/18)
| Agency | Comptroller of the Currency, Federal Reserve Board and FDIC |
| Action | Proposed rule |
| Date | 12/6/18 |
| Link | https://www.federalregister.gov/documents/2018/12/07/2018-26507/real-estate-appraisals |
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The Comptroller of the Currency, Federal Reserve Board, and Federal Deposit Insurance Corporation are inviting comment on a proposed rule to amend their regulations requiring appraisals for transactions involving single-family (four units or fewer) residential real estate. The proposed rule would raise the threshold for loans for these transactions from $250,000 to $400,000, so loans under $400,000 would not require appraisals. Those loans would still require some evaluation of the real estate being used as collateral for the loan. |
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