American Bankers Association filed 1 comment on this docket between Sep 29, 2017 and Sep 29, 2017. 16 other organizations filed here. The comment window closed 3224d ago.
Good Afternoon: Please see the enclosed comment letter regarding Comments on Proposal to Increase the Real Estate Appraisal Threshold. Please contact me if you have any questions of if you are unable to open the attached document. Sincerely, Sharon Whitaker
The OCC, Board, and FDIC (collectively, the agencies) are inviting comment on a proposed rule to amend the agencies' regulations requiring appraisals of real estate for certain transactions. The proposal would increase the threshold level at or below which appraisals would not be required for commercial real estate transactions from $250,000 to $400,000. This proposed change to the appraisal threshold reflects comments the agencies received through the regulatory review process required by the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) and completed in early 2017. For commercial real estate transactions with a value at or below the proposed threshold, the amended rule would require institutions to obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices if the institution does not obtain an appraisal by a state certified or licensed appraiser.
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