On March 11, 2016, NAR President Tom Salomone submitted a comment letter to the Federal Financial Institutions Examination Council’s (FFIEC) Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) review. The letter affirms NAR support of the current appraisal threshold of $250,000 for Federally Related Transactions.

The letter also thanked the federal banking agencies for their March 4, 2016 Interagency Advisory on Use of Evaluations in Real Estate-Related Financial Transactions, which  describes the existing framework for using an evaluation instead of an… Read More