Real Estate Appraisal Exceptions in Major Disaster Areas

Resumo

Section 2 of the Depository Institutions Disaster Relief Act of 1992 (DIDRA), authorizes the Federal financial institutions regulatory agencies to make exceptions to statutory and regulatory requirements relating to appraisals for certain transactions. The exceptions are available for transactions that involve real property in major disaster areas when the exceptions would facilitate recovery from the disaster and would be consistent with safety and soundness. The exceptions expire on January 17, 1997.