Regulators are preparing to issue a final rule as soon as this week raising the threshold for residential real estate transactions requiring an appraisal, according to Mortgage News Daily
The agency plan would increase the threshold from $250,000 to $400,000—the first increase since 1994. It would raise the number of mortgage originations for which appraisals are not required by roughly 40 percent, according to the report.
In a February comment letter
, ICBA advocated further increasing the threshold to $500,000 and indexing it for inflation.
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