Bank regulators propose expanding exemption for residential appraisals
WASHINGTON - Three federal bank regulators are proposing to raise the threshold for residential real estate transactions that require an appraisal from $250,000 to $400,000 in order to ease regulatory burdens and keep pace with home prices.
The Federal Deposit Insurance Corp. and the Office of Comptroller of the Currency announced the proposal Tuesday. The third agency, the Federal Reserve Board, is expected to finish its consideration of the notice soon.
In separate press releases, ...