Preserving Access to CRE Capital Act of 2016

Bill 114 hr 4620, also known as the Preserving Access to CRE Capital Act of 2016, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to amend the Truth in Lending Act in order to provide an exemption for certain loans secured by commercial real estate from certain appraisal requirements.

The bill aims to streamline the lending process for commercial real estate loans by exempting certain transactions from the appraisal requirements that are currently in place. This exemption would apply to loans that are under $400,000 and meet certain criteria, such as being held in the portfolio of the lender for at least three years.

Supporters of the bill argue that these appraisal requirements can be burdensome and costly for small businesses seeking to secure financing for commercial real estate projects. By exempting certain loans from these requirements, the bill aims to make it easier for small businesses to access the capital they need to grow and expand. Critics of the bill, however, argue that exempting certain loans from appraisal requirements could increase the risk of fraud and predatory lending practices in the commercial real estate market. They also raise concerns about the potential impact on the overall stability of the commercial real estate market. Overall, the Preserving Access to CRE Capital Act of 2016 is a controversial piece of legislation that seeks to balance the needs of small businesses with the potential risks associated with exempting certain loans from appraisal requirements. It is currently being debated in Congress, and its ultimate fate remains uncertain.