Removing Barriers Blog

CUNA Pushes NCUA to Increase Appraisal Threshold for Residential Real Estate Transactions
Posted October 04, 2019 by CUNA Advocacy

CUNA sent a letter to NCUA urging it increase the threshold for which an appraisal is required for a residential real estate transaction. In July, NCUA adopted a rule that increased the threshold for commercial real estate transactions but did not address residential transactions.

We support increasing the current threshold for residential real estate transactions to at least $400,000.

The time and expense associated with residential appraisals is often significant for homebuyers; increasing the threshold to at least $400,000 will have a substantial benefit on credit union members seeking to obtain a mortgage. Such action would also address a competitive disadvantage that was created when federal banking regulators recently raised this threshold for banks to $400,000.