Joint Release/Agencies Issue an Exception on Real Estate Transactions from the Appraisal Requirements for Transactions in Areas Affected by Severe Storms and Flooding in Louisiana — 2016-10-24

Agencies Issue an Exception on Real Estate Transactions from the Appraisal Requirements for Transactions in Areas Affected by Severe Storms and Flooding in Louisiana WASHINGTON — Four federal financial institution regulatory agencies issued an exception from the appraisal requirements for real estate-related financial transactions in the parishes declared to be in a major disaster area due to the severe storms and flooding in Louisiana. The agencies will not require financial institutions to obtain appraisals for affected transactions for the time period specified if certain conditions are met. The exception is being made under the Financial Institutions Reform, Recovery, and Enforcement Act and its implementing regulations.