FEDERAL BANKING AGENCIES TO DEFER APPRAISALS AND EVALUATIONS FOR REAL ESTATE TRANSACTIONS AFFECTED BY COVID-19

摘要

The federal banking agencies-the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Consumer Financial Protection Bureau (CFPB), in consultation with state financial regulators, have issued an interagency statement to address challenges relating to appraisals and evaluations for real estate related financial transactions affected by the coronavirus (COVID-19) pandemic. The agencies have issued an interim final rule to temporarily defer real estate-related appraisals and evaluations under the agencies' interagency appraisal regulations. This temporary relief will allow regulated institutions to extend financing to creditworthy households and businesses quickly.