The effort to raise the threshold for transactions excused from appraisal requirements responds to concerns that the current threshold is outpaced by real estate prices.
The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of transactions.
Following an increase in the CRE appraisal threshold for community bankers earlier this year, the National Credit Union Administration has proposed an even bigger shift for CUs.
From medical expenses to home improvements, here's a look at some of the most frequently cited reasons homeowners are borrowing against their home equity.
The removal of costly appraisal requirements on tens of thousands of smaller commercial properties could help community banks better compete for loans they say they have been losing to nonbank lenders.
If Freddie Mac's credit-risk transfer activities continue to grow, mortgage lenders could eventually see a reduction in the guarantee fees they pay to the government-sponsored enterprise, according to CEO Donald Layton.
