NCUA Stays Hip by Modernizing Appraisal Regulations
As part of NCUA's Regulatory Modernization Initiative, the NCUA Board is proposing to revise two of NCUA's regulations regarding appraisals. Firstly, the revisions would eliminate the requirement that federal credit unions make available a copy of the appraisal used in connection with that member's application for a loan secured by a first lien on a dwelling. Secondly, the proposed rule would expand the current exemption for certain transactions involving an existing extension of credit. [6/27/14]