WASHINGTON -- The Federal Deposit Insurance Corp. on Tuesday approved a rule freeing all real estate loans under $250,000 from certified appraisals.

Although the threshold was doubled to $100,000 in 1990, many bankers said it still slowed lending and drove up borrower costs.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.