In today’s Federal Register (77 FR 54722), the six federal financial regulatory agencies – Board of Governors of the Federal Reserve System (FRB), Bureau of Consumer Financial Protection (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), National Credit Union Administration (NCUA), and Office of the Comptroller of the Currency (OCC) – published a proposed rule amending Regulation Z to establish appraisal requirements for higher-risk mortgage loans. The agencies are seeking comments on all aspects of the proposed rule. Comments must be received by October 15, 2012. The methods by which comments are required to be made to the agencies are set out in the proposed rule on pages 54722 and 54723 of the above issue of the Federal Register. Due to the brief comment period allowed by the agencies for sending comments, this memorandum will only give an overview of the proposed rule. Whether or not you send comments, we encourage you to print and review the proposed rule by clicking here.