NAR Letter to OCC, FDIC, and Fed Reserve Regarding the Residential Appraisal Threshold

Issue Date: February 04, 2019


On February 4, NAR sent a letter to Comptroller Otting, Chairman Powell, and Chairman McWilliams. The letter thanks the Agencies for the opportunity to comment on the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency proposal to increase the current appraisal threshold for federally related residential real estate transactions from $250,000 to $400,000. NAR agrees that the current appraisal threshold should be evaluated but disagrees with the proposed broad increase to the appraisal threshold without consideration for specific real estate markets.