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Financial Services Law Insights and Observations

Texas regulator relaxes certain appraisal requirements for credit unions

State Issues Covid-19 Texas Appraisal Credit Union Real Estate

State Issues

On April 22, the Texas Credit Union Department announced the temporary waiver of certain appraisal requirements. The waivers allow credit unions to defer certain appraisals and evaluations for up to 120 days after closing and raise the threshold level when an appraisal is not required for residential real-estate transactions from $250,000 to $400,000.