Federal Agencies Approve Rule Doubling Appraisal Threshold for CRE
The Federal Deposit Insurance Corporation on March 20 approved a final rule that will double the appraisal threshold for commercial real estate transactions. The Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System are expected to adopt the rule soon.
The federal banking regulatory agencies maintained the $250,000 threshold level for one- to four-unit single family residential loans. They also maintained the $1 million threshold level for business (owner occupied commercial real estate) loans. …continue reading the rest of this post: Appraisals are not required for commercial real estate transactions from $250,000 to $500,000