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Appraisal Threshold

Question: 
EGRRCPA was to amend the appraisal thresholds. When is this effective?
Answer: 

EGRRCPA didn’t have an implementation date so technically the threshold went from $250K to $400K when the bill was signed into law. We urged banks to wait for a final rule and that came out and then went into effect Oct. 9, 2019. Banks should have or be in the process of amending policies and procedures and ensuring all applicable changes are accounted for.
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Learn more about Andy Zavoina’s webinar Annual LENDING Compliance Recap

First published on 01/26/2020

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