Removing Barriers Blog

NCUA Board Votes Yes on Proposed Appraisal Rule
Posted September 20, 2018 by CUNA Advocacy

The NCUA Board issued a proposed rule that would raise the threshold below which appraisals for non-residential real estate would not be required. Currently, an appraisal is required for non-residential real estate transactions with a market value greater than $250,000. The proposed rule would increase the threshold to $1 million. A written estimate of market value would still be required; the agency is seeking comment on whether a de minimus exemption should also apply to this provision. For a GSE-backed loan, the market value would be determined by the uninsured value. The proposal will be subject to a 60 day comment period.