{"abstract":"The OCC, Board, and FDIC (collectively, the agencies) are adopting a final rule to amend the agencies' regulations requiring appraisals of real estate for certain transactions. The final rule increases the threshold level at or below which appraisals are not required for residential real estate transactions from $250,000 to $400,000. The final rule defines a residential real estate transaction as a real estate-related financial transaction that is secured by a single 1-to-4 family residential property. For residential real estate transactions exempted from the appraisal requirement as a result of the revised threshold, regulated institutions must obtain an evaluation of the real property collateral that is consistent with safe and sound banking practices. The final rule makes a conforming change to add to the list of exempt transactions those transactions secured by residential property in rural areas that have been exempted from the agencies' appraisal requirement pursuant to the Economic Growth, Regulatory Relief, and Consumer Protection Act. The final rule requires evaluations for these exempt transactions. The final rule also amends the agencies' appraisal regulations to require regulated institutions to subject appraisals for federally related transactions to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Office of the Comptroller of the Currency","name":"Comptroller of the Currency","id":80,"url":"https://www.federalregister.gov/agencies/comptroller-of-the-currency","json_url":"https://www.federalregister.gov/api/v1/agencies/80","parent_id":497,"slug":"comptroller-of-the-currency"},{"raw_name":"FEDERAL RESERVE SYSTEM","name":"Federal Reserve System","id":188,"url":"https://www.federalregister.gov/agencies/federal-reserve-system","json_url":"https://www.federalregister.gov/api/v1/agencies/188","parent_id":null,"slug":"federal-reserve-system"},{"raw_name":"FEDERAL DEPOSIT INSURANCE CORPORATION","name":"Federal Deposit Insurance Corporation","id":164,"url":"https://www.federalregister.gov/agencies/federal-deposit-insurance-corporation","json_url":"https://www.federalregister.gov/api/v1/agencies/164","parent_id":null,"slug":"federal-deposit-insurance-corporation"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2019/10/08/2019-21376.html","cfr_references":[{"chapter":null,"citation_url":null,"part":34,"title":12},{"chapter":null,"citation_url":null,"part":225,"title":12},{"chapter":null,"citation_url":null,"part":323,"title":12}],"citation":"84 FR 53579","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"This final rule is effective on October 9, 2019, except for the amendments in instructions 4, 5, 9, 10, 14, and 15, which are effective on January 1, 2020.","disposition_notes":null,"docket_ids":["Docket No. OCC-2019-0038","Docket No. R-1639"],"dockets":[],"document_number":"2019-21376","effective_on":"2019-10-09","end_page":53598,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2019/10/08/2019-21376.xml","html_url":"https://www.federalregister.gov/documents/2019/10/08/2019-21376/real-estate-appraisals","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2019-21376?publication_date=2019-10-08","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2019-10-08/2019-21376/mods.xml","not_received_for_publication":null,"page_length":20,"page_views":{"count":19863,"last_updated":"2026-08-26 08:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2019-10-08/pdf/2019-21376.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2019-21376.pdf?1570452318","publication_date":"2019-10-08","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2019/10/08/2019-21376.txt","regulation_id_number_info":{"1557-AE57":{"issue":"201904","html_url":"https://www.federalregister.gov/regulations/1557-AE57/real-estate-appraisals","title":"Real Estate Appraisals","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201904&RIN=1557-AE57&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"},"3064-AE87":{"issue":"201904","html_url":"https://www.federalregister.gov/regulations/3064-AE87/appraisal-threshold-for-residential-estate-transactions-exemption-from-appraisals-of-real-property-i","title":"Appraisal Threshold for Residential Estate Transactions; Exemption From Appraisals of Real Property in Rural Areas; Appraisal Review","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201904&RIN=3064-AE87&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"},"7100-AF30":{"issue":"201910","html_url":"https://www.federalregister.gov/regulations/7100-AF30/real-estate-appraisals-docket-no-r-1639-","title":"Real Estate Appraisals (Docket No: R-1639)","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201910&RIN=7100-AF30&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1557-AE57","3064-AE87","7100-AF30"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2019-10-10T03:30:07Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":53579,"subtype":null,"title":"Real Estate Appraisals","toc_doc":"Real Estate Appraisals","toc_subject":null,"topics":["Administrative practice and procedure","Banks, banking","Consumer protection","Credit","Holding companies","Mortgages","Reporting and recordkeeping requirements","Savings associations","Securities"],"type":"Rule","volume":84}