Agencies Propose Method for Adjusting Small Loan Appraisal Threshold Requirements
Dodd-Frank amended the Truth in Lending Act to add special appraisal requirements for higher-priced mortgage loans, but the rules exempt loans for $25,000 or less. But the agencies have put their heads together and have proposed a way to adjust that figure annually. Here's their plan. (It's just so crazy it might work.) [7/25/16]