The Board of Governors of the Federal Reserve System, the FDIC and the Office of the Comptroller of the Currency issued an advisory to clarify expectations for the use of property evaluations by banking institutions.
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council published an annual report summarizing its efforts over the 2015 calendar year.
The Consumer Financial Protection Bureau will evaluate the Ability to Repay / Qualified Mortgage ("ATR/QM") Rule, which is part of the "Truth in Lending Act" (Regulation Z).
Several banking regulatory agencies issued an interagency advisory to insured depository institutions and bank holding companies to address financial industry concerns about appraiser shortages.
The Financial Crimes Enforcement Network ("FinCEN") expanded its efforts to combat money laundering in the luxury residential real estate market. FinCen also issued guidance on the risks associated with "all-cash" transactions in that market.