The Federal Reserve, the FDIC, and the Office of the Comptroller of the Currency have adopted a final rule increasing the FIRREA threshold for residential real estate transactions requiring an appraisal from $250,000 to $400,000, effective October 9, 2019.
Cyber fraud is a rampantly growing problem facing the real estate industry – and lenders need to arm themselves to prevent it. It only takes one breach to expose consumers and irrevocably damage a lender’s reputation. So, how do you protect yourself? Here are three steps real estate lenders can take to avoid being a victim... Read more
This year marked the centennial for the Consumers Bankers Association and 10 years of CBA LIVE! Once again the conference drew record attendance. The big question dominating the conference was what attendees believed to be the #1 issue NOW for banks. The answer – implementing technology. Retaining talent and mitigating fraud were also on the... Read more
As regulators work toward a decision on whether to increase the threshold for residential real-estate transactions requiring an appraisal from $250,000 to $400,000, many lenders and appraisers alike are wondering whether they are prepared, whatever happens. For lenders, a higher threshold will offer more flexibility on the type of appraisal products they use. They stand to... Read more