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NCUA Voted to Adopt Final Rule Increasing Commercial Appraisal Thresholds to $1 Million

Jul 19, 2019

At their meeting on July 18, the National Credit Union Administration (NCUA) voted to adopt a final rule that will increase the threshold above which appraisals are required for both commercial real estate and qualified business loans from $250,000 to $1 Million. This increase goes beyond what had been previously adopted by federal banking regulators in a similar rulemaking, who only increased the commercial real estate threshold to $500,000.

In addition, the adopted final rule includes provisions implementing Senate Bill 2155, which provides for targeted relief from appraisal requirements in rural areas subject to meeting specific requirements about appraiser availability, cost, and turn time. The rule now goes for publication into the Federal Register.