In an effort intended to "save borrowers time and money" while still ensuring that their higher-priced mortgage loans are financially sound, six federal agencies – the Consumer Financial Protection Bureau (CFPB), the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Finance Agency (FHFA), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) – issued a final rule today that exempts loans of $25,000 or less as well as certain streamlined refinancings from the Dodd-Frank Act's appraisal requirements. These requirements were finalized in January 2013 (See our Jan 19, 2013, blog post for more information). Because manufactured homes "present unique issues in determining the appropriate valuation method," the appraisal requirement for manufactured homes will not become effective for 18 months – July 18, 2015. For more, read the full news release.