{"id":"SEC-14-007","kind":"order","level":"federal","jurisdiction":"United States","state":"","metro":"","industry":"14","agency":"","eco":"","issuer":"OCC, Board of Governors of the Federal Reserve System, FDIC","authority":"12 U.S.C. 3331 et seq. (Title XI, FIRREA); 12 C.F.R. parts 34, 225, 323","instrument":"Real Estate Appraisals; interim final rule, 85 Fed. Reg. 21312","title":"Real Estate Appraisals","dateIssued":"2020-04-14","effective":"2020-04-17 (issued Apr. 14, 2020.","end":"2020-12-31","startDate":"2020-04-17","endDate":"2020-12-31","quarters":["2020Q2","2020Q3","2020Q4"],"types":["OTHER"],"addressees":["regulated financial institutions"],"clause":"defers the requirement to obtain an appraisal or evaluation for up to 120 days following the closing of certain residential and commercial real estate transactions... excluding transactions for acquisition, development, and construction of real estate... These deferrals are not waivers","enforcement":"supervisory (Title XI)","functions":["AP appraisals deferred to after closing","CL closings without the appraisal in hand","CB lenders"],"notes":"The regulators\u0027 stated predicate: interior inspections limited by stay-home and distancing orders; the compelled substitute for the in-person appraisal","sourceUrl":"https://www.govinfo.gov/content/pkg/FR-2020-04-17/pdf/2020-08216.pdf","snapshot":"","fileExists":true,"fileBytes":255423,"grade":"primary","character":"","description":"","collection":"SEC-14","url":"/library/SEC-14-007","exhibitUrl":"/exhibit/SEC-14-007","citation":"OCC, Board of Governors of the Federal Reserve System, FDIC, Real Estate Appraisals; interim final rule, 85 Fed. Reg. 21312 (Apr. 14, 2020) (Ex. SEC-14-007)","stateName":"","related":[]}