Bankowość · 08/10/2019

OCC, Federal Reserve Board, and FDIC Adopt Final Rule for Real Estate Appraisals

The Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC) are adopting a final rule to update their regulations for real estate appraisals. The rule increases the threshold for when appraisals are required for residential real estate transactions from $250,000 to $400,000, and requires evaluations for certain exempt transactions, including those secured by residential property in rural areas.