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.
The FDIC and Office of the Comptroller of the Currency have decided to increase the FIRREA threshold for residential real-estate transactions requiring an appraisal from $250,000 to $400,000. If the Board of Governors of the Federal Reserve also votes to increase as expected, lenders will have access to a new suite of valuations available for loans... Read more
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
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