1557-AE57 201904 Unified Agenda of Federal Regulatory and Deregulatory Actions 1557 Comptroller of the Currency OCC 1500 Department of the Treasury TREAS Real Estate Appraisals

The OCC, FRB, and FDIC issued a notice of proposed rulemaking (NPRM) that would increase the threshold level at or below which appraisals would not be required for residential real estate-related transactions from $250,000 to $400,000. Regulated institutions would be required to obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices. The NPR would also make conforming changes to add transactions secured by residential property in rural areas that have been exempted from the agencies' appraisal requirement pursuant to the Economic Growth, Regulatory Relief and Consumer Protection Act to the list of exempt transactions and require evaluations for these exempt transactions. Pursuant to the Dodd-Frank Act, the NPR would amend the agencies' appraisal regulations to require regulated institutions to subject appraisals for federally related transactions to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Final Rule Stage Undetermined No Independent agency 12 CFR 34 12 U.S.C. 1 et seq. 12 U.S.C. 25b 12 U.S.C. 29 12 U.S.C. 93a 12 U.S.C. 371 12 U.S.C. 1462a 12 U.S.C. 1463 12 U.S.C. 1464 12 U.S.C. 1465 12 U.S.C. 1701j-3 12 U.S.C. 1828(o) 12 U.S.C. 3331 et seq. 12 U.S.C. 5101 et seq. 12 U.S.C. 5412(b)(2)(B) 15 U.S.C. 1639h No NPRM 12/07/2018 83 FR 63110 NPRM Comment Period End 02/05/2019 Final Rule 07/00/2019 No None No No https://www.regulations.gov/docket?D=OCC-2018-0038 https://www.regulations.gov/docket?D=OCC-2018-0038 No No 1557-AE41 Merged with 1557-AE49 Merged with Mitchell Plave Special Counsel 1557 Comptroller of the Currency OCC 202 649-6285 mitchell.plave@occ.treas.gov Chief Counsel's Office, 400 7th Street SW, Washington DC 20219