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ABA: The American Bankers Association
Compliance News

ABA Supports Proposed Residential Real Estate Appraisal Threshold Increase

ABA offered support for a recent proposal by the financial regulatory agencies to raise the appraisal threshold for residential real estate transactions from $250,000 to $400,000. Under the proposal, transactions that qualify for the exemption would still need to obtain an evaluation consistent with safe and sound banking practices. The evaluation would provide an estimate of the market value of the property, but would not be required to be prepared by a state licensed or certified appraiser, and would be less detailed and costly than an appraisal.