Washington Report

Advocacy Updates from Washington D.C.

North Dakota Appraisal Requirement Waiver Request

The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) has received a request for a waiver of appraiser credentialing requirements for appraisals for federally related transactions under $500,000 for 1-to-4 family residential real estate transactions and under $1,000,000 for agricultural and commercial real estate transactions throughout the State of North Dakota for a period of not less than five years. The request was submitted by North Dakota Governor Doug Burgum, the North Dakota Department of Financial Institutions, and the North Dakota Bankers Association. ASC is asking for public comment before making a final decision on the request. Comments must be received on or before July 1, 2019.

ASC North Dakota Waiver Request