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The banking agencies plan to issue a notice of proposed rulemaking to implement section 103 of the Economic Growth, Regulatory Relief, and Consumer Protection Act.  Section 103 amended title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to exclude loans made by a financial institution from the requirement to obtain a title XI appraisal if certain conditions are met.  The conditions are that the property is located in a rural area; the transaction value is less than $400,000; the financial institution retains the loan in portfolio, subject to exceptions, and; not later than three days after the Closing Disclosure is given to the consumer, the financial institution or its agent has contacted not fewer than three state-licensed or state-certified appraisers, as applicable, and documented that no such appraiser, as applicable, was available within five business days beyond customary and reasonable fee and timeliness standards for comparable appraisal assignments, as documented by the financial institution or its agent.