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Real Estate Appraisals (Us Federal Reserve System Regulation) (Frs) (2018 Edition) The Law Library

Real Estate Appraisals (US Federal Reserve System Regulation) (FRS) (2018 Edition) The Law Library presents the complete text of the Real Estate Appraisals (US Federal Reserve System Regulation) (FRS) (2018 Edition). Updated as of May 29, 2018 The OCC, Board, and FDIC (collectively, the agencies) are adopting a final rule to amend the agencies' regulations requiring appraisals of real estate for certain transactions. The final rule increases the threshold level at or below which appraisals are not required for commercial real estate transactions from $250,000 to $500,000. The final rule defines commercial real estate transaction as a real estate-related financial transaction that is not secured by a single 1-to-4 family residential property. It excludes all transactions secured by a single 1-to-4 family residential property, and thus construction loans secured by a single 1-to-4 family residential property are excluded. For commercial real estate transactions exempted from the appraisal requirement as a result of the revised threshold, regulated institutions must obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices. This book contains: - The complete text of the Real Estate Appraisals (US Federal Reserve System Regulation) (FRS) (2018 Edition) - A table of contents with the page number of each section