On March 11, 2015 NAR sent a letter to the Federal Financial Institutions Examination Council providing comment on appraisal related regulations being reviewed under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA).
The letter expressed support for the current threshold level for requiring real estate appraisals in federally related transactions. The letter also thanked the Council for issuing the March 4, 2016 Interagency Advisory on Use of Evaluations in Real Estate-Related Financial Transactions, reaffirming the current threshold level of $250,000.00.
NAR Letter to FFIEC Regarding Economic Growth and Regulatory Paperwork Reduction Act and Appraisal Threshold
Issue Date: March 11, 2016
On March 11, 2015 NAR sent a letter to the Federal Financial Institutions Examination Council providing comment on appraisal related regulations being reviewed under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA).
The letter expressed support for the current threshold level for requiring real estate appraisals in federally related transactions. The letter also thanked the Council for issuing the March 4, 2016 Interagency Advisory on Use of Evaluations in Real Estate-Related Financial Transactions, reaffirming the current threshold level of $250,000.00.
Download Letter