News & Analysis as of

Appraisal Relief Measures

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

Goodwin

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

Goodwin on

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

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

Ballard Spahr LLP on

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

Burr & Forman

Regulators Outline Exceptions for Evaluations and Appraisals During COVID-19

Burr & Forman on

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)

White & Case LLP on

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)

Akerman LLP on

(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

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

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