Agencies Issue Final Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements


Federal Reserve Bank of San Francisco

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December 17, 2013

On Thursday, December 12, 2013, six federal financial regulatory agencies issued a final rule that creates exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The exemptions are intended to save borrowers time and money while still ensuring that the loans are financially sound.