Responding, in part, to concerns from the financial industry that the current threshold for commercial real estate transactions requiring an appraisal has not kept pace with price appreciation, the federal banking agencies have finalized a rule doubling it.
The Federal Reserve Board of Governors, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency proposed to raise the threshold in July 2017, and pumped up their initial proposed increase by $100,000 in the final rule.
Find out more details about why the industry supports the threshold increase.