News & Analysis as of

Appraisal Coronavirus/COVID-19

DRI

[Event] Insurance Coverage and Practice Symposium - November 29th - December 1st, New York, NY

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DRI's Insurance Coverage and Practice Symposium is the flagship educational and networking program for insurance executives, claims professionals, and outside counsel who specialize in insurance coverage. This year's...more

BakerHostetler

Insurance Class Action Update - 2023 Q1

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This year began like the last one ended, with lots of activity. Total loss class actions kept going around the country, and labor depreciation class actions experienced ups and downs, depending on one’s viewpoint. New class...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Mortgage

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Mortgage industry. So, what happened in 2022?...more

BakerHostetler

[Podcast] The Latest in the World of Property Tax

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Listeners in the property tax world have been clamoring for an update. Here is the latest in property taxes: pandemic implications, dark stores, intangibles, and more. Dave Ebersole joins Matt Hunsaker in the virtual studio...more

Lasher Holzapfel Sperry & Ebberson PLLC

Divorce During COVID – Top 5 Issues To Watch

We have all read the headlines that divorce rates are increasing worldwide and those rates are not expected to be dropping soon. The COVID-19 pandemic has pushed many of us to our limits. People are stressed out and locked...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2020

SBA Adopts Streamlined Loan Forgiveness Procedures for PPP Loans of $50,000 or Less - The U.S. Small Business Administration (“SBA”) has adopted an interim final rule to streamline the loan forgiveness application process...more

Goodwin

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

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In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Ballard Spahr LLP

Federal Banking Agencies Finalize and Clarify Appraisal Deferral Rule

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As previously reported, the federal banking agencies announced an interim final rule in April 2020 due to COVID-19 that allows for appraisals and evaluations of homes and other real property to be obtained up to 120 days...more

Robins Kaplan LLP

Financial Daily Dose 8.26.2020 | Top Story: American Airlines to furlough 19,000 in coming months

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American Airlines is pushing forward with plans to furlough 19,000 workers this fall, even as the airline industry lobbies a stalemated Congress for another multi-billion dollar bailout. That figure, “when combined with the...more

Ballard Spahr LLP

FHA Extends Temporary Employment Verification and Appraisal Guidance Due to COVID-19

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In Mortgagee Letter 2020-20 dated June 29, 2020, the U.S. Department of Housing and Urban Development announced the extension of FHA temporary guidance regarding employment verification and appraisals due to COVID-19. The...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Extend COVID-19 Origination Guidance

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On June 10, 2020, Fannie Mae in updates to Lender Letters 2020-03, 2020-04, and 2020-06 and Freddie Mac in Bulletin 2020-23 extend temporary COVID-19 origination guidance....more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Update Origination and Appraisal Guidance Based on COVID-19 and Suspend Bulk Purchases

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On May 5, 2020 Fannie Mae updated Lender Letter 2020-03 and Lender Letter 2020-04 and Freddie Mac issued Bulletin 2020-14, to update and extend temporary origination and appraisal guidance based on COVID-19. The Freddie Mac...more

Burr & Forman

Regulators Outline Exceptions for Evaluations and Appraisals During COVID-19

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On April 14, 2020, the Consumer Financial Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Comptroller of the Currency (OCC), and Board of Governors of the Federal...more

White & Case LLP

COVID-19 Response: US financial services regulatory (Updated)

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In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Banking Agencies Issue Temporary Deferral of Appraisals and Evaluations for Real Estate Transactions

On April 14, 2020, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued an interim final rule to temporarily defer real estate appraisals and evaluations...more

Akerman LLP

Regulatory Guidance for Banks, Lenders, and Licensed Mortgage Originators Regarding Coronavirus (UPDATED)

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(New information added on April 17, 2020) - As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and...more

ArentFox Schiff

New Rule Allows Banks to Postpone Appraisals 120 Days for Certain Loans

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On April 14, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued an interim final rule to temporarily defer the...more

Ballard Spahr LLP

Agencies Issue Statement and Interim Final Rule Regarding Appraisals Because of COVID-19

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On April 14, 2020, the federal banking agencies announced an interim final rule that will allow for appraisals and evaluations of homes and other real property to be obtained up to 120 days after closing. ...more

Akerman LLP

Federal Banking Agencies Defer Appraisals and Evaluations for Real Estate Transactions

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On April 14, federal agencies announced a new interim final rule and interagency guidance relating to appraisals and evaluations for real estate related financial transactions affected by the COVID-19 pandemic....more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Provide Further Appraisal Relief Due to COVID-19

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On March 31, 2020, Fannie Mae in an update to Lender Letter 2020-04 and Freddie Mac in Bulletin 2020-8 announced appraisal relief. The relief applies to loans with application dates on or before May 17, 2020....more

McCarter & English, LLP

Commercial Real Estate Closings Move Forward During COVID-19 Pandemic

Although the COVID-19 pandemic is requiring changes in standard practices, many commercial real estate transactions are continuing to close—albeit with various logistical adjustments. To help keep closings on track, we...more

Ballard Spahr LLP

VA Issues Origination and Appraisal Guidance Based on COVID-19

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The U.S. Department of Veterans Affairs (VA) issued Circular 26-20-10 to provide guidance to lenders assisting loan applicants affected by the COVID-19 national emergency. It also issued Circular 26-20-11 and Exhibit A to...more

Nossaman LLP

[Webinar] Navigating COVID-19 for the Right of Way Industry - April 1st, 1:00 pm - 2:00 pm PT

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Please join our Eminent Domain & Valuation Group for a special webinar on “Navigating COVID-19 for the Right of Way Industry” on April 1, 2020. While COVID-19 has undoubtedly upended the world, many in the right of way...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Address VOEs, Income Continuity, Appraisals, Title Policies, and More

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In response to COVID-19 developments, Fannie Mae and Freddie Mac have issued guidance regarding verifications of employment (VOEs), income continuity, appraisals, title policies, and other matters. The Fannie Mae guidance is...more

Bricker Graydon LLP

Fannie Mae releases new Lender Letters on originations and appraisals

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In its evolving response to the COVID-19 pandemic, Fannie Mae has released two separate Lender Letters addressing originations and appraisals. Lender Letter LL-2020-03 addresses questions and concerns of industry partners...more

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