Federal Reserve News: Agencies seek public comment on proposal to raise appraisal exemption threshold for residential real estate transactions

4Dec - by Editor - 0 - In STL.News



WASHINGTON – The three federal banking agencies announced they are seeking public comment on a proposal to raise the threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000.  The appraisal threshold has remained unchanged since 1994, and the agencies believe an increase would provide burden relief without posing a threat to the safety and soundness of financial institutions.

All three agencies have approved the proposal, with the FDIC and the OCC acting on November 20. 

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