PROVIDENCE – The Independent Community Bankers of America last week lauded regulators for an easing of real estate appraisal mandates on certain transactions.
Federal banking agencies recently doubled the transaction-value threshold requiring commercial real estate appraisals to $500,000. The trade group said the rule change will help its near 5,700 community bank members.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
“The higher thresholds better reflect the rising cost of commercial real estate in urban communities while providing much-needed alternatives in rural areas, where there is a shortage of licensed appraisers and often few comparable sales of similar properties,” said Camden R. Fine, ICBA president and CEO, in prepared remarks.
The trade group leading up to the rule change argued the raised threshold would provide relief to local banks, which would promote lending in local communities.
