Newsroom

September 20, 2018

NAFCU to attend NCUA Board meeting today; appraisals rule slated

NCUANAFCU will be in attendance at today's NCUA Board meeting during which the agency is poised to issue a proposed rule on real estate appraisals. The agency's real estate appraisals rule was included on its spring rulemaking agenda released in May.

In its spring rulemaking agenda, NCUA said it intended to update its rules requiring appraisals of real estate for certain transactions by increasing the threshold level at or below which appraisals would not be required for commercial real estate transactions.

In April, the FDIC, Federal Reserve Board and the Office of Comptroller of the Currency jointly adopted appraisal changes for banks; NAFCU's Compliance Blog further details the NCUA's current appraisal rule, its expected proposal and banking regulators' approach.

Also on today's NCUA Board agenda:

  • share insurance fund quarterly report;
  • board briefing on the appointment of administrative law judges; and
  • the Texas Member Business Loan rule.

The meeting is slated to begin at 10 a.m. Eastern today.