Comments on proposals from both NCUA and the Consumer Financial Protection Bureau (CFPB) are due in January. CUNA has called for two such proposals, which would provide regulatory relief to credit unions.
NCUA issued a proposed rule in November that would raise the threshold for which an appraisal is required for a residential real estate transaction to $400,000, up from the current $250,000. Transactions that fall below the threshold would require a written estimate of market value of the real estate collateral that is consistent with safe and sound banking practices.
The NCUA board previously finalized a CUNA-backed rule making changes to the appraisal rule to provide relief for commercial real estate transactions and enhancing clarity within the rule, and CUNA requested the agency provide additional relief.
Comments on the proposal are due to NCUA by Jan. 28.
Other comment deadlines this month include: