ICBA expressed strong support for the legislation introduced by Rep. Blaine Luetkemeyer (R-Mo.) to provide relief from rigid and expensive appraisal requirements for “higher risk mortgages.” Under the Dodd-Frank Act, non-qualified mortgages with an APR that exceeds the average prime rate offer by at least 1.5 percent must have independent, written appraisals by certified or licensed appraisers. The Access to Affordable Mortgages Act (H.R. 5148), which reflects a provision in ICBA’s Plan for Prosperity, would exempt any mortgage with a value of $250,000 or less held in portfolio for at least three years, regardless of its interest rate or “qualified mortgage” status.