WASHINGTON -- The Federal Deposit Insurance Corp. is expected to vote today on legislation that would increase the size of loans that do not require an appraisal of the real estate that secures them.
The new rules, which are intended to make it easier for financial institutions to make loans, would move the threshold on loans requiring appraisals from $100,000 to $250,000.
If adopted, the legislation would affect all real estate related transactions, including loans for leasing or buying property.
The measure would also exempt certain small-business real estate transactions that now require appraisals.
The briefs were compiled from staff and wire reports.