Submitted by sevans on Mon, 12/01/2014 - 3:33pm

The appraisal rule contains exemptions from the appraisal requirement by identifying certain real estate-related financial transactions that do not require the services of an appraiser.  An exemption is established under the rule for a transaction that involves: 

[T]he purchase, sale, investment in, exchange of, or extension of credit
secured by, a loan or interest in a loan, pooled loans, or interests in real
property, including mortgage-backed securities, and each loan or interest
in a loan, pooled loan, or real property interest met the requirements of
this regulation, if applicable, at the time of origination;

12 C.F.R. §722.3(a)(6).  The “Transactions Involving Real Estate Notes” exemption applies to the sale of an interest in a loan.

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