United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2018_register executive 2018-04-07 article Rules and Regulations D09002ee1c7e923f7 D09002ee1c7e94299 United States Department of the Treasury originator org United States Government Agency or Subagency United States Office of the Comptroller of the Currency originator org United States Government Agency or Subagency United States Federal Reserve System originator org United States Government Agency or Subagency United States Federal Deposit Insurance Corporation originator org United States Government Agency or Subagency 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. 83 FR 15019 https://www.govinfo.gov/app/details/FR-2018-04-09/2018-06960 2018-06960 fr09ap18-1 RIN 1557-AE18 RIN 3064 AE56 4810-33-P; 6210-01-P; 6714-01-P Docket No. OCC-2017-0011 Docket No. R-1568 RIN 7100 AE-81 https://www.govinfo.gov/app/details/FR-2018-04-09/2018-06960 https://www.govinfo.gov/content/pkg/FR-2018-04-09/html/2018-06960.htm https://www.govinfo.gov/content/pkg/FR-2018-04-09/pdf/2018-06960.pdf Administrative Practice and Procedure Banking Federal Reserve System Capital Planning Holding Companies Securities Stress Testing Appraisal Appraiser Banks Banking Consumer Protection Credit Mortgages National Banks Reporting and Recordkeeping Requirements Savings Associations Truth in Lending 18 p. 15019 15036 83 FR 15019 Title 12 Part 225 12 CFR Part 225 Title 12 Part 323 12 CFR Part 323 Title 12 Part 34 12 CFR Part 34 RIN 1557-AE18 RIN 3064 AE56 Real Estate Appraisals; Federal Register Vol. 83, Issue RULE 2018-06960 DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency FEDERAL RESERVE SYSTEM FEDERAL DEPOSIT INSURANCE CORPORATION 2018-04-09 Docket No. OCC-2017-0011 Docket No. R-1568 RIN 7100 AE-81 4810-33-P; 6210-01-P; 6714-01-P 2018-06960 Final rule.

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 final rule is effective on April 9, 2018. OCC: G. Kevin Lawton, Appraiser (Real Estate Specialist), (202) 649-7152, Mitchell E. Plave, Special Counsel, Legislative and Regulatory Activities Division, (202) 649-5490, or Joanne Phillips, Attorney, Bank Activities and Structure Division, (202) 649-5500, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. For persons who are deaf or hearing impaired, TTY users may contact (202) 649-5597. Administrative Practice and Procedure Banking Federal Reserve System Capital Planning Holding Companies Securities Stress Testing Appraisal Appraiser Banks Banking Consumer Protection Credit Mortgages National Banks Reporting and Recordkeeping Requirements Savings Associations Truth in Lending Real Estate Appraisals , comments@FDIC.gov oira_submission@omb.eop.gov regs.comments@occ.treas.gov http://www.appraisalfoundation.org/imis/TAF/Standards/Appraisal_Standards/Uniform_Standards_of_Professional_Appraisal_Practice/TAF/USPAP.aspx?hkey=a6420a67-dbfa-41b3-9878-fac35923d2af http://www.costar.com/News/Article/Federal-Reserves-Flow-of-Funds-To-Incorporate-CoStar-Groups-Price-Indices/138998 http://www.fdic.gov/regulations/laws/federal/ http://www.frbsf.org/banking/data/aggregate-data/ http://www.regulations.gov https://www.federalreserve.gov/apps/fof/SeriesAnalyzer.aspx?s=FL075035503&t=&bc=:FI075035503,FL075035503&suf=Q https://www.federalreserve.gov/apps/fof/SeriesStructure.aspx https://www.federalreserve.gov/releases/z1/current/default.htm https://www.ffiec.gov/pdf/2017_FFIEC_EGRPRA_Joint-Report_to_Congress.pdf https://www.sba.gov/sites/default/files/files/Size_Standards_Table.pdf www.reginfo.gov Vol. 83, no. 68 Office of the Federal Register, National Archives and Records Administration 2018-04-09 continuing daily deposited born digital 280 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2018-04-09 P0b002ee199fadc0b 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr09ap18 https://www.govinfo.gov/app/details/FR-2018-04-09 https://www.govinfo.gov/content/pkg/FR-2018-04-09/pdf/FR-2018-04-09.pdf https://www.govinfo.gov/content/pkg/FR-2018-04-09/xml/FR-2018-04-09.xml fdlp 15019 15289 DGPO 2018-04-07 2024-06-01 FR-2018-04-09 machine generated eng FR FR-2018-04-09 83 68