### Question
How does the law define transaction value?


### Answer
Under *12 U.S.C. § 3356*, **transaction value** is defined as:

> the amount of a loan or extension of credit, including a loan or extension of credit that is part of a pool of loans or extensions of credit

#### Citation:
  - *12 U.S.C. § 3356*
  - Heading: **CHAPTER 34A-APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL**

