Appraisal Institute Says Federal Regulators Have Gone Insane

Appraisal Institute Blasts Federal Regulator’s Insane Proposal To Eliminate Appraisal Requirements


Have federal regulators turned the federal government into a crazy house?
The Appraisal Institute is not happy. They believe regulators have lost their collective minds. What has the Appraisal Institute freaking out?  The FDIC, the Federal Reserve and the Office of the Comptroller of the Currency are proposing to eliminate appraisal requirement on home sales of $400,000 and below.
The three banking regulators proposed increasing the appraisal exemption threshold from $250,000 to $400,000. As a result, this means that some home sales of $400,000 and below would no longer require an appraisal.
The FDIC also states that increasing the threshold would have exempted an additional 214,000 mortgages from needing appraisals.
However, that is not the appraisal industry’s chief concern.

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