MBA NewsLink Staff
NCUA Changes Appraisal Regulation
The National Credit Union Administration is changing the regulation requiring real estate appraisals for certain commercial real estate transactions.
The NCUA Board of Directors approved a rule that amends the agency's real estate appraisal requirements for certain transactions as part of the NCUA's regulatory reform agenda. The final rule:
--Increases the threshold for required appraisals in commercial real estate transactions from the current $250,000 to $1 million;
--Reorganizes the appraisal regulation to make it easier to determine when a written estimate or an appraisal is required;
--Exempts real estate transactions located in rural areas from appraisal requirements if certain conditions are met; and
--Amends the definitions section of the rule to reflect these changes.
The final rule will become effective 90 days after publication in the Federal Register.
Fannie Mae Prices $802M Multifamily DUS REMIC
Fannie Mae, Washington, D.C, priced its seventh multifamily Delegated Underwriting and Servicing Real Estate Mortgage Investment Conduit in 2019 on July 16. FNA 2019-M12 totaled $802 million.
The M12 deal was Fannie Mae's 90th since its trading desk started marketing its own REMIC products in 2011, Fannie Mae Vice President Capital Markets and Pricing Dan Dresser said.
Fannie Mae will guarantee all classes of FNA 2019-M12 regarding the full and timely payment of interest and principal.