Appraisers Unite Against Increased Threshold Proposal

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Single Family Residential BlogThey’re at it again. But this time you can help stop them – if you act by Feb. 5.

The federal bank regulatory agencies have proposed to increase the residential appraisal threshold level from $250,000 to $400,000, exempting nearly three quarters of residential real estate related financial transactions from appraisal requirements. [Read more…]

Cautious Optimism on Appraisal Thresholds

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The following is a guest blog by Justin D. Slack, MAI, SRA, AI-GRS, AI-RRS.

While urging caution to federal regulators on raising appraisal thresholds, the Appraisal Institute is heartened by the agencies’ latest action, in which safety and soundness concerns outweigh the zeal for loan production.

The Office of the Comptroller of the Currency, National Credit Union Administration, Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System on March 20 submitted a report to Congress on the results of a once every 10-year review of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. The review, which technically began in 2014 with initial comment requests and included several rounds of outreach meetings into 2016, was summarized and presented in the Joint Report to Congress.

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