CUNA wrote in support of NCUA’s proposal to raise the residential appraisal threshold earlier this month, as CUNA originally requested the rule to give credit unions parity with banks. Several credit union leagues around the country also wrote to NCUA in support of the proposal.
Specifically, NCUA proposed to raise the amount for which residential appraisal threshold would be increased to $400,000 (from the current $250,000).
CUNA, in its comment letter, noted the change would “reduce regulatory burden for credit unions, resulting in both transaction cost and time savings for credit unions and their members.”
League comments on the proposal include: